British Pound Plunges Further as Investors Flee to Yen

British Pound Plunges Further as Investors Flee to Yen

The British pound continued to slide against the U.S. dollar and the yen moved higher in early Asian trading on Wednesday amid the continuing fallout from the U.K.’s vote last month to leave the European Union, while China’s authorities guided the yuan to its weakest level in almost six years. The U.K. currency, also known as sterling, fell 1.4% to 1.2837 and is currently trading at the lowest level in 31 years.

Daily Technical Analysis and Forex tips 6 July 2016

Daily Technical Analysis and Forex tips 6 July 2016

Daily Technical Analysis, Market Analysis and Forex tips 6 July 2016 of Euro, US dollar, British pound, Swiss franc, Japanese yen, Canadian dollar and Australian dollar

EUR/USD Intraday: watch 1.1025

Our preference for short positions below 1.1120 with targets at 1.1025 & 1.1000 in extension. Alternative scenario is above 1.1120 look for further upside with 1.1165 & 1.1185 as targets.