Kickstart the FX trading day for May 9 w/a technical look at the EURUSD, USDJPY and GBPUSD

The Bank of England kept rates unchanged but the vote of 7-2 with two dissenters for interest rate cuts and Gov. Bailey’s assertion that the market may be under pricing the end of year rate cut projection initially sent the GBPUSD lower, however failure to extend to the downside led to shorts covering in volatile trading. What next?

IN this Kickstart video, I take a look at the technicals that are driving the three major currency pairs – the EURUSD, USDJPY and GBPUSD. What levels are in play for those currency pairs given the early up and down (or down and up) volatility.

This article was written by Greg Michalowski at www.forexlive.com.