The GBP/USD is trading on a strong upside trend after hitting the 1.5325 low. At this moment, the currency pair has hit the 1.5700 high. Many currency analysts are claiming that the Sterling and Euro are oversold and an upside swing should be underway.

The U.S Dollar is preforming very well against the high-yielding interest rate currencies, after the Feds announced “Operation Twist” to strengthen the U.S economy and fears of the debt crisis in the Eurozone spreading. The U.S Dollar broke 3 major resistance lines and hit the 1.0360 high, falling short of breaking the 1.0370 major resistance line.

USD/JPY is once again on a strong downtrend, so far it has hit the 76.10 this morning. The U.S Federal Reserve decision of going through with a new round of quantitative easing is making investors nervous at this moment and selling the dollar (announcement hasn’t been made so far).