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SunBirdFX Daily Market Analysis : 01/30/2013
Since hitting a high of 1.6379 against the U.S. dollar on January 1, the pound sterling has tumbled nearly 4 percent to today's levels around 1.5750.
EURUSD has finally broken above the 1.3500 level and is targeting the 200 Weekly Moving Average at 1.3520/30 area. We will attempt a counter trend trade at 1.3520 with SL 1.3560 TP 1.3480.
Gold is slowly climbing towards the Weekly Pivot at 1669. At that level we will open a short position with SL 1679 TP 1655.
There are Big risk events later today - ADP Non-Farm Employment Change, Advance GDP q/q, and the FOMC Statement.