Forex Trading Live Update, Wednesday 1st August

by Joe Oliver, Forex Trading-Pips

Euro currency traded in a choppy range on Wednesday as traders await await policy decisions from the Federal Reserve and Eurpean Central Bank. Earlier today headlines appeared quoting Bundesbank President Jens Weidmann that the ECB ‘shouldn’t exceed its mandate’ causing the euro to pair some of it gains versus the US dollar and Japanese Yen.

EUR 30 minute bars

EUR 30 minute bars

GBPUSD slid  lower to 1.5610 from 1.5691 session high after UK manufacturing PMI fell in July to 45.4 from June’s 48.4, the lowest in 38 months. We are currently taking some heat on the Intraday Intermarket Component of our Forex Signals Program following decent gains made through last week.

GBP Intraday Intermarket Signals

GBP Intraday Intermarket Signals

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