{"id":64926,"date":"2014-12-09T06:39:59","date_gmt":"2014-12-09T11:39:59","guid":{"rendered":"http:\/\/countingpips.com\/?p=64926"},"modified":"2014-12-09T07:21:27","modified_gmt":"2014-12-09T12:21:27","slug":"gbpusd-buy-gbp-but-not-against-the-usd","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/12\/gbpusd-buy-gbp-but-not-against-the-usd\/","title":{"rendered":"GBP\/USD: Buy GBP But Not Against The USD"},"content":{"rendered":"<div id=\"inves-3774198794\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 9, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/growthaces.com\/\">http:\/\/growthaces.com<\/a><\/p>\n<p><strong>GROWTHACES.COM Trading Positions<\/strong><\/p>\n<p><strong>EUR\/USD: <\/strong>short at 1.2320, target 1.2140, stop-loss 1.2390<\/p>\n<p><strong>GBP\/USD: <\/strong>short at 1.5670, target 1.5520, stop-loss 1.5720<\/p>\n<p><strong>USD\/CHF: <\/strong>long at 0.9750, target 0.9900, stop-loss 0.9700<\/p>\n<p><strong>EUR\/CHF: <\/strong>long at 1.2025, target 1.2095, stop-loss 1.1995<\/p><div id=\"inves-470140338\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p><strong>GBP\/JPY: <\/strong>long at 187.50, target 191.50, stop-loss 186.70<\/p>\n<p><strong>GROWTHACES.COM Pending Orders<\/strong><\/p>\n<p><strong>USD\/JPY: <\/strong>buy at 119.50, target 123.80, stop-loss 118.80<\/p>\n<p><strong>USD\/CAD:<\/strong> buy at 1.1420, target 1.1600, stop-loss 1.1380<\/p>\n<p><strong>EUR\/GBP: <\/strong>sell at 0.7930, target 0.7780, stop-loss 0.7990<\/p>\n<p>We encourage you to visit our <a href=\"http:\/\/growthaces.com\/\" target=\"_blank\" rel=\"nofollow\"><span style=\"text-decoration: underline;\"><span style=\"color: #000080;\">website<\/span><\/span><\/a> <a href=\"http:\/\/growthaces.com\/\" target=\"_blank\" rel=\"nofollow\"><span style=\"text-decoration: underline;\"><span style=\"color: #000080;\">http:\/\/growthaces.com<\/span><\/span><\/a> and subscribe to our newsletter to receive daily forex analysis and trading positions summary for major pairs and crosses.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>EUR\/USD: The Next Target Is 1.2140<\/strong><\/p>\n<p>(we got short at 1.2320)<\/p>\n<ul type=\"disc\">\n<li><strong>Atlanta Federal Reserve Bank President Dennis Lockhart (dove, voter in 2015) said he saw no rush to remove language from the central bank\u2019s policy statement that there remains a \u201cconsiderable time\u201d before the first interest rate increase<\/strong>. He said he will watch the behavior of prices in coming months and wants to be confident inflation will rise to the Fed\u2019s two percent target before committing to an initial rate increase. He said he expects that to happen and anticipates the Fed will be able to approve an initial rate increase sometime in the second half of 2015.<\/li>\n<li><strong>San Francisco Fed President John Williams (dove, voter in 2015<\/strong>) said the timing of the Fed\u2019s interest-rate hikes will be driven by economic data, and will be a \u201cgradual process.\u201d He sees <strong>mid-2015 as a \u201creasonable guess\u201d on when the Fed could be expected to start raising interest rates.<\/strong><\/li>\n<li><strong>The Fed\u2019s policy committee meets next week.<\/strong> The Fed reiterated in October it plans to keep rates at their current near-zero level for a \u201cconsiderable time,\u201d and <strong>is expected to debate that forward guidance<\/strong> at the nearest meeting. Getting rid of the \u2018considerable time\u2019 language would be an initial signal of the tightening cycle.<\/li>\n<li><strong>While the Fed\u2019s statement is getting more hawkish, the European Central Bank plans to expand its balance sheet.<\/strong> Executive Board member Benoit Coeure said the ECB policymakers agreed unanimously last week they would assess how and when to react to downward inflation risks in early 2015, and that they could then change their asset buying plans.<\/li>\n<li>The EUR\/USD recovered yesterday, as expected. However, the rate is under pressure of the guesswork that the Fed removes a \u201cconsiderable time\u201d from its statement next week. The EUR\/USD reached today\u2019s high at 1.2367. The next resistance level is 1.2384 (200-hma) and 1.2393 (daily high, December 5).<\/li>\n<li><strong>We got short on the EUR\/USD at 1.2320, in line with <a href=\"http:\/\/growthaces.com\/articles\/usd-takes-it-all\" target=\"_blank\">our yesterday\u2019s strategy<\/a>. We set the target at 1.2140 (just above lows from August 2012).<\/strong><\/li>\n<\/ul>\n<p><strong> <img loading=\"lazy\" decoding=\"async\" title=\"\" src=\"http:\/\/growthaces.com\/sites\/default\/files\/eurusd_09122014.png\" alt=\"EUR\/USD Daily Chart\" width=\"500\" height=\"350\" \/><\/strong><\/p>\n<p>Significant technical analysis\u2019 levels:<\/p>\n<p>Resistance: 1.2384 (200-hma), 1.2393 (high Dec 5), 1.2425 (10-dma)<\/p>\n<p>Support: 1.2242 (low Aug 10, 2012), 1.2167 (low Aug 3, 2012), 1.2133 (low Aug 2, 2012)<\/p>\n<p><strong>GBP\/USD: Buy GBP But Not Against The USD<\/strong><\/p>\n<p>(GBP\/USD short, but GBP\/JPY long and EUR\/GBP short)<\/p>\n<ul type=\"disc\">\n<li><strong>British industrial output unexpectedly fell in October 0.1% mom <\/strong>and rose 1.1% yoy vs. expected rise of 0.2% mom and 1.8% yoy. The output increased by 0.8% yoy in September. Manufacturing output tumbled 0.7% mom \u2013 its biggest monthly decline since May \u2013 hit by a 4.5% mom fall in computer, electronic and optical products. The Office for National Statistics said there was no sign of significantly different levels of demand for British exports.<\/li>\n<li><strong>Despite today\u2019s numbers, Britain looks set to grow more strongly than main trading partners in the euro zone<\/strong>. The PMI index published last week showed British manufacturing held up in November as demand from domestic orders softened the hit to factories from a fall in export orders.<\/li>\n<li>The GBP\/USD is still under pressure of expectations the Federal Reserve will hike rates before the Bank of England. <strong>We got short on the GBP\/USD at 1.5670 yesterday using the short-lived recovery of the rate. The medium-term outlook is bearish. We set the target of our position at 1.5520. <\/strong><\/li>\n<li><strong>In the opinion of GrowthAces.com the GBP is still likely to outperform other major currencies (EUR, CHF, JPY). That is why we are looking to get short on the EUR\/GBP. We also got long on the GBP\/JPY at 187.50 today and set the target at 191.50.<\/strong><\/li>\n<\/ul>\n<p><img decoding=\"async\" title=\"\" src=\"http:\/\/growthaces.com\/sites\/default\/files\/gbpusd_09122014.png\" alt=\"GBP\/USD Daily Chart\" \/><\/p>\n<p>Significant technical analysis\u2019 levels:<\/p>\n<p>Resistance: 1.5696 (high Dec 5), 1.5697 (21-dma), 1.5725 (high Dec 4)<\/p>\n<p>Support: 1.5626 (low, Dec 9), 1.5541 (low Dec 8), 1.5507 (low Sep 2, 2013)<\/p>\n<p><a href=\"http:\/\/growthaces.com\/\" target=\"_blank\" rel=\"nofollow\"><span style=\"text-decoration: underline;\"><span style=\"color: #000080;\">GrowthAces.com<\/span><\/span><\/a> is an independent macroeconomic research consultancy for traders. We offer you daily forex analysis with forex trading signals. The service covers forex forecasts and signals for following currencies: EUR, USD, GBP, JPY, CAD, CHF, AUD, NZD as well as emerging markets. Our subscribers should expect to receive: forex trading strategies, latest price changes, support and resistance levels, buy and sell forex signals and early heads-up about the potential fx trading opportunities. <a href=\"http:\/\/growthaces.com\/\" target=\"_blank\" rel=\"nofollow\"><span style=\"text-decoration: underline;\"><span style=\"color: #000080;\">GrowthAces.com<\/span><\/span><\/a> offers also daily macroeconomic fundamental analysis that enables you to see fundamental changes on forex market. We provide in-depth analysis of economic indicators resulting from knowledge, experience, advanced statistics and cutting-edge quantitative tools.<\/p>\n<p>We encourage you to subscribe to our daily forex newsletter on <a href=\"http:\/\/growthaces.com\/\" target=\"_blank\" rel=\"nofollow\"><span style=\"text-decoration: underline;\"><span style=\"color: #000080;\">http:\/\/growthaces.com<\/span><\/span><\/a> to get daily analysis for forex traders. We intend that our consultancy should help you make better decisions. At <a href=\"http:\/\/growthaces.com\/\" target=\"_blank\" rel=\"nofollow\"><span style=\"text-decoration: underline;\"><span style=\"color: #000080;\">GrowthAces.com<\/span><\/span><\/a> we give our best to you \u2013 always greatest quality, usefulness and profitability.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by http:\/\/growthaces.com GROWTHACES.COM Trading Positions EUR\/USD: short at 1.2320, target 1.2140, stop-loss 1.2390 GBP\/USD: short at 1.5670, target 1.5520, stop-loss 1.5720 USD\/CHF: long at 0.9750, target 0.9900, stop-loss 0.9700 EUR\/CHF: long at 1.2025, target 1.2095, stop-loss 1.1995 GBP\/JPY: long at 187.50, target 191.50, stop-loss 186.70 GROWTHACES.COM Pending Orders USD\/JPY: buy at 119.50, target 123.80, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-64926","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/64926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=64926"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/64926\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=64926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=64926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=64926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}