{"id":81684,"date":"2015-11-30T08:51:47","date_gmt":"2015-11-30T13:51:47","guid":{"rendered":"http:\/\/countingpips.com\/?p=81684"},"modified":"2015-11-30T10:36:10","modified_gmt":"2015-11-30T15:36:10","slug":"sterling-tests-support-on-broader-dollar-strength","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/11\/sterling-tests-support-on-broader-dollar-strength\/","title":{"rendered":"Sterling Tests Support on Broader Dollar Strength"},"content":{"rendered":"<div id=\"inves-2358424568\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 30, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>Sterling moved lower as the dollar continued to gain traction ahead of the December 16-17 Fed monetary policy meeting.\u00a0 The UK appears to be reporting stronger economic growth than Europe but weaker than the United States, which is allowing their currency to edge lower versus the greenback.\u00a0 The yield differential is moving in favor of the U.S. dollar which is driving the currency pair to fresh lows.<\/p>\n<p>On Monday the UK released consumer lending and credit. UK October lending data came in near expectations, with consumer credit rising GBP 1.2 billion, slightly below September\u2019s GBP 1.3 billion figure, while mortgage approvals rose to 69.6k, slightly below the median for 69.9k but above September\u2019s 69.0k. Lending to non-financial businesses rose GBP 2.3 billion, rebounding from September\u2019s GBP 0.9 billion contraction.<\/p>\n<p>Sterling is printing in the red on the session but moved off its lows in the wake of the lending data.\u00a0 Prices touched a 6-month low which now places target support near the April lows at 1.4565.\u00a0 Resistance is seen near former support near the November lows at 1.5030.<\/p>\n<p>Momentum is negative with the MACD (moving average convergence divergence) index printing in the red with a downward sloping trajectory that points to a lower exchange rate. The relative strength index is flat, and printing a reading of 36, which is on the lower end of the neutral range but above the oversold trigger level of 30.<\/p>\n<p><a href=\"http:\/\/blog.forextime.com\/wp-content\/uploads\/2015\/11\/gbp-113015.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-9963\" src=\"http:\/\/blog.forextime.com\/wp-content\/uploads\/2015\/11\/gbp-113015-300x196.jpg\" alt=\"gbp-113015\" width=\"300\" height=\"196\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p><div id=\"inves-439312752\" 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>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime Sterling moved lower as the dollar continued to gain traction ahead of the December 16-17 Fed monetary policy meeting.\u00a0 The UK appears to be reporting stronger economic growth than Europe but weaker than the United States, which is allowing their currency to edge lower versus the greenback.\u00a0 The yield differential is moving [&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-81684","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/81684","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=81684"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/81684\/revisions"}],"predecessor-version":[{"id":81692,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/81684\/revisions\/81692"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=81684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=81684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=81684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}