Collins: The second collapse of GBPUSD

Alan Collins from 3c Analysis is evaluating the prospect for further downside momentum in GBPUSD. He says that the market has renewed selling pressure that previously resulted in 7 consecutive down months. The dollar index’s 25% appreciation over the past 9 months has been rapid, with the dollar hitting a 7½ year high against the yen and a 12 year high against the euro this week. According to an International Monetary Fund spokesman, Gerry Rice, the dollar’s appreciation is “in line with the fundamen