With no $undamental newsthe economic calendar for Europe and all eyes on the UK budget report currently being presented by Chancellor Darling the $uros to poundsr has temporarily gone into semi-hibernation, continuing the sideways movement seen in the last few days and is taking this opportunity to try and build a platform in the 0.88 region.  Yesterday’s down bar with no shadows either top or bottom reversed Monday’s gains and once again pushed the pair back below all three moving averages, reinforcing the bearish sentiment.  This price action has continued again this morning with a failed attempt to move above the 9 day moving average as prices continue to consolidate in this area.

Given the above scenario my trading suggestion for today is to stand aside and look to tomorrow and Friday when the economic calendar is considerably busier which hopefully will inject some much need life in this pair.

You can keep up to date with all the latest fundamental news, latest currency news and live currency charts by simply following these links.  In addition I have also included details of an excellent ECN broker.