Cable was the best performer between majors on Tuesday. The pair rose across the board after falling sharply in the last three days. Stocks fell in Europe and the U.S. but rose in Asia. A year after the Dow Jones suffered the biggest point decline in history; markets fell at a moderate pace in Wall Street, following a surprise decline in consumer confidence. The stock index closed lower on five out of the past six sessions.
Cable revives :GPB/USD rose for the first time after four days with losses. The pair posted an intra-day high at 1.5989 and failed to get back above 1.6000 but managed to hold on top of 1.5910. Against the Yen, Cable recovered after falling to a 4-month low on Monday. GPB/JPY rose from 142.50 to 143.90; the pair is facing a strong resistance at 144.00. To the Euro, the Pound posted interesting gains. EUR/GBP continued to pull back from 5-month high and fell to 0.9100.Despite rising across the board, Cable still holds below key levels, suggesting that it could start falling again in the next sessions.
Dollar mixed:With the exception of the Pound, Greenback rose across the board. Dollar appreciated constantly through the Asian and European session but pull back, losing part of the gains during the American. EUR/USD closed below 1.4600 for the first time since mid September. The pair bottomed at 1.4525 posting a fresh 2-week low. The Yen lost ground on Tuesday across the board. USD/JPY rose above 90.00 to 90.36. If Greenback can not break the resistance zone at 90.35 in the next hours, the pair could regain the downside.
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