USD traded higher across the board, also helped by comments from Treasury Sec Geithner denying US is willfully looking to devalue USD to boost its economy. Instead, Geithner notes, the recent inflows into emerging markets reflects confidence in the high growth rates of those countries. Over the weekend, several foreign officials voiced their opposition to the latest Fed move.
The US Dollar escalated to highs against most of the major currencies during early trading in Asia on the back of the stronger than expected US Jobs data that came out on Friday. The headline number for the October Non-farm payrolls rose to 151,000, which was much higher than the 60,000 that most economists had expected on Wall Street.
Fade out GBP/USD at 1.62 on Tokyo open. (24:00 GMT or 2:00 on the chart) with 100 EMA(50 EMA on 30 MTF) acted as resistance.. Enter short at 1.6195 with stop at 1.6215.
Managed to crossover the pivot support S1 with target of T2(1.609) within sight. Exit on pullback at pivot mS2 (1.6108).
