{"id":67190,"date":"2015-01-27T09:03:14","date_gmt":"2015-01-27T14:03:14","guid":{"rendered":"http:\/\/countingpips.com\/?p=67190"},"modified":"2015-01-27T09:48:04","modified_gmt":"2015-01-27T14:48:04","slug":"gbpusd-long-for-1-5250-despite-weaker-gdp-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/01\/gbpusd-long-for-1-5250-despite-weaker-gdp-data\/","title":{"rendered":"GBP\/USD: Long For 1.5250 Despite Weaker GDP Data"},"content":{"rendered":"<div id=\"inves-759910124\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 27, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Analysis by <a href=\"http:\/\/growthaces.com\/\">http:\/\/growthaces.com<\/a><\/p>\n<p><strong>GROWTHACES.COM <a href=\"http:\/\/growthaces.com\">Forex Trading Strategies<\/a><a>:<\/a><\/strong><\/p>\n<p><strong>Trading Positions:<\/strong><\/p>\n<p><strong>EUR\/USD trading strategy: <\/strong>long at 1.1220, target 1.1550, stop-loss 1.1090<\/p>\n<p><strong>GBP\/USD trading strategy<\/strong>: long at 1.5080, target 1.5250, stop-loss 1.4990<\/p>\n<p><strong>USD\/CHF trading strategy: <\/strong>long at 0.8980, target 0.9180, stop-loss 0.8930<\/p><div id=\"inves-2986474776\" 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>EUR\/GBP trading strategy: <\/strong>long at 0.7470, target 0.7650, stop-loss 0.7390<\/p>\n<p><strong>EUR\/CHF trading strategy:<\/strong> long at 1.0160, target 1.0650, stop-loss 1.0075<\/p>\n<p><strong>AUD\/NZD trading strategy: <\/strong>short at 1.0680, target 1.0350, stop-loss 1.0770<\/p>\n<p><strong>Pending Orders:<\/strong><\/p>\n<p><strong>USD\/JPY trading strategy: <\/strong>sell at 119.20, if filled target 116.60, stop-loss 120.00<\/p>\n<p><strong>USD\/CAD trading strategy: <\/strong>buy at 1.2350, if filled target 1.2720, stop-loss 1.2250<\/p>\n<p><strong>AUD\/USD<\/strong> <strong>trading strategy: <\/strong>buy at 0.7880, if filled target 0.8250, stop-loss 0.7790<\/p>\n<p><strong>NZD\/USD<\/strong> <strong>trading strategy: <\/strong>buy at 0.7375, if filled target 0.7750, stop-loss 0.7300<\/p>\n<p><strong>EUR\/JPY trading strategy: <\/strong>buy at 132.50, if filled target 135.00, stop-loss 131.70<\/p>\n<p><strong>AUD\/JPY trading strategy:<\/strong> buy at 93.10, if filled target 96.20, stop-loss 92.20<\/p>\n<p><a href=\"http:\/\/growthaces.com\">Forex Trading Strategies<\/a><\/p>\n<p><strong>GBP\/USD: Long For 1.5250 Despite Weaker GDP Data<\/strong><\/p>\n<p>(we do not change our bullish forecasts)<\/p>\n<ul type=\"disc\">\n<li><strong>GDP growth in the third quarter fell to 0.5%<\/strong> from 0.7% in the third quarter, slower than the <strong>median forecast of 0.6%.<\/strong> Output increased by 0.8% qoq in services and 1.3% in agriculture. In contrast, output decreased by 1.8% in construction and 0.1% in production.<\/li>\n<li><strong>For the year as a whole, the economy grew by 2.6%,<\/strong> up from 1.7% in 2013 and Britain\u2019s economy is on track to have been the world\u2019s fastest-growing major advanced economy last year.<\/li>\n<li><strong>British banks approved 35,667 mortgages for house purchase in December, the lowest number since April 2013, 24% down from the same time a year ago. <\/strong>The British Bankers\u2019 Association said that for 2014 as a whole, the number of house purchase approvals was 9% higher yoy. The mortgage market has been softening but the association expects a revival in consumer lending, because improving employment data make consumer fell more secure and optimistic.<\/li>\n<li><strong>The GBP\/USD weakened after the GDP reading to 1.5062<\/strong> as the data reinforced views that the Bank of England is unlikely to raise interest rates this year.<\/li>\n<li><strong>We do not change our bullish GBP\/USD forecasts.<\/strong> <strong>We got long on the GBP\/USD at 1.5080 and set the target at 1.5250.<\/strong><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" title=\"\" src=\"http:\/\/growthaces.com\/sites\/default\/files\/gbpusd_27012015.png\" alt=\"GBP\/USD Daily Forex Chart\" width=\"500\" height=\"350\" \/><\/p>\n<p>Significant technical analysis\u2019 levels:<\/p>\n<p>Resistance: 1.5142 (hourly high Jan 22), 1.5175 (hourly high Jan 22), 1.5205 (21-dma)<\/p>\n<p>Support: 1.4972 (low Jan 26), 1.4952 (low Jan 23), 1.4900 (psychological level)<\/p>\n<p><strong>EUR\/CHF: Long For 1.0650<\/strong><\/p>\n<p>(long positions are justified but trading CHF is risky now)<\/p>\n<ul type=\"disc\">\n<li><strong>The Swiss National Bank vice-chariman Jean-Pierre Danthine said the bank was ready to intervene in the FX market to ease monetary policy after dropping its cap on the CHF. <\/strong><\/li>\n<li>Danthine said Denmark\u2019s policy of pegging the crown to the euro would not be suitable for Switzerland, but that Singapore\u2019s system, which allows the Singapore dollar to rise or fall against the currencies of its main trading partners within an undisclosed trading band, deserved closer examination. He also gave Sweden and Norway as examples of small, open economies that have fared well with a flexible exchange rate.<\/li>\n<li><strong>The EUR\/CHF rose to the levels not seen since the Swiss National Bank removed its cap on the currency and the EUR\/CHF reached a day\u2019s high at 1.0382<\/strong>. The rise was short-lived and the EUR\/CHF is again near the levels observed during Asian session.<\/li>\n<li><strong>We should remember that the credibility of the new SNB policy is questionable<\/strong>. Jean-Pierre Danthine said on January 12 that the cap on the CHF at 1.20 per EUR would remain the key monetary policy tool and on January 15 the bank dropped the cap. Moreover, the SNB created a rise in risk aversion and demand for safe haven assets by abandoning the cap, which added to pressure on the EUR\/CHF.<\/li>\n<li>On the other hand, a strong appreciation of the CHF is very harmful to Swiss economy and the SNB may cut rates further<strong>. The CHF is likely to weaken on fundamental basis and long EUR\/CHF and USD\/CHF positions are justified, but the volatility may be very high and trading CHF is risky now.<\/strong><\/li>\n<li><strong>We got EUR\/CHF long at 1.0160. The medium-term target is 1.0650 (recovery high on January 15). The stop-loss is at 1.0075, below today\u2019s lows. We got USD\/CHF long at 0.8980 for 0.9180.<\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Analysis by <a href=\"http:\/\/growthaces.com\/\">http:\/\/growthaces.com<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysis by http:\/\/growthaces.com GROWTHACES.COM Forex Trading Strategies: Trading Positions: EUR\/USD trading strategy: long at 1.1220, target 1.1550, stop-loss 1.1090 GBP\/USD trading strategy: long at 1.5080, target 1.5250, stop-loss 1.4990 USD\/CHF trading strategy: long at 0.8980, target 0.9180, stop-loss 0.8930 EUR\/GBP trading strategy: long at 0.7470, target 0.7650, stop-loss 0.7390 EUR\/CHF trading strategy: long at 1.0160, [&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-67190","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/67190","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=67190"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/67190\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=67190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=67190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=67190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}