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Charting FX: dollar regains its crown

After the strong movement we had in the last couple of days, the dollar index is somewhat stalling but remains above the downtrend resistance level. 

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A main focus is on cable, with the pound losing ground for a third day without any macroeconomic data to support it. However, the GBP/USD long-term chart shows that previous dips have been seriously bought, sending the pound higher each time. There is also a steady trend in EUR/USD, but today’s drop could be the sign a loss of confidence in the single currency.

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Live US Dollar Basket | GBP/USD | EUR/USD prices

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