{"id":29677,"date":"2012-05-16T11:37:56","date_gmt":"2012-05-16T15:37:56","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=29677"},"modified":"2012-05-16T11:37:56","modified_gmt":"2012-05-16T15:37:56","slug":"gbpusd-has-retested-1-6000-now-which-way-will-it-go","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/05\/16\/gbpusd-has-retested-1-6000-now-which-way-will-it-go\/","title":{"rendered":"GBP\/USD has retested 1.6000. Now, which way will it go?"},"content":{"rendered":"

Introduction<\/strong><\/p>\n

After reaching its highest level this year, at 1.6303,
\nGBP\/USD has dropped significantly to 1.6064. Notably, the pair has touched the
\nascending trend line, and it may bounce off it or continue dropping down.<\/p>\n

Factors Affecting:<\/strong><\/p>\n

It seems the pound has also absorbed the economic woes of
\nthe euro zone as depicted by its poor performance in recent days. Thanks to
\nrisk aversion, the dollar has gained considerably across the board. And,
\nalthough the pound has sometimes got some breathing space, it has continued
\nwith its downward momentum.\u00a0 <\/span>In the
\ncoming week, traders will be paying close attention to news from the United
\nKingdom for any clues on the performance of the currency.<\/p>\n

Technical Analysis:<\/strong><\/p>\n

Technical analysis<\/a> on the GBP\/USD reveals it has touched an
\nascending trend line. Immediate resistance is found at 1.6128. A confirmed
\nbreak above this could expose 1.6303. Immediate support is found at 1.5988. A
\nconfirmed break below this could expose 1.5790.<\/p>\n

Forecast:<\/strong><\/p>\n

The best case scenario would be to wait and see if price
\nbounces off the trend line or if it convincingly breaks it. Otherwise,
\naggressive short term traders can as well short the pair.<\/p>\n

For more information about technical analysis and latest Forex news click here<\/a>.<\/p>\n

Disclaimer:<\/p>\n

THE
\nABOVE IS FOR INFORMATIONAL PURPOSES ONLY AND NOT TO BE CONSTRUED AS
\nSPECIFIC TRADING ADVICE. RESPONSIBILITY FOR TRADE DECISIONS IS SOLELY
\nWITH THE READER. <\/span><\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Introduction After reaching its highest level this year, at 1.6303, GBP\/USD has dropped significantly to 1.6064. Notably, the pair has touched the ascending trend line, and it may bounce off it or continue dropping down. Factors Affecting: It seems the pound has also absorbed the economic woes of the euro zone as depicted by its … <\/p>\n

Continue reading “GBP\/USD has retested 1.6000. Now, which way will it go?”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-29677","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/29677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=29677"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/29677\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=29677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=29677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=29677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}