{"id":99555,"date":"2016-12-14T05:21:12","date_gmt":"2016-12-14T10:21:12","guid":{"rendered":"http:\/\/countingpips.com\/?p=99555"},"modified":"2016-12-14T05:21:12","modified_gmt":"2016-12-14T10:21:12","slug":"pre-fomc-analysis-gbpusd-is-close-to-support","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/12\/pre-fomc-analysis-gbpusd-is-close-to-support\/","title":{"rendered":"PRE FOMC Analysis: GBP\/USD is close to support"},"content":{"rendered":"<div id=\"inves-3787929817\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 14, 2016<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><b>By Admiral Markets<\/b><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/fxmedia.s3.amazonaws.com\/articles\/2016-12-14FOMC.jpg\"><\/p>\n<p>The main <a href=\"http:\/\/www.admiralmarkets.com\/analytics\/fundamental-analysis\/your-weekly-fundamental-view-dec-12-16\" target=\"_blank\">event<\/a> this month is FOMC Economic projection with statement and Federal Funds Rate decision. Market expects a hike of 0.25 % (from 0.50% to 0.75%). Any deviation from expected result will move the USD heavily. Today&#8217;s GBP data was better than expected with Average Earnings Index coming +0.2 % better than expected while the change in the number of people claiming unemployment-related benefits during the previous month dropped to 2.4k. <\/p>\n<p>GBP\/USD is currently at support and bullish POC zone comes within 1.2628-48 (neckline support, L3, 61.8, trend line) and the bounce from there could target 1.2696 and 1.2730. The problem for bulls is head and shoulders pattern and in the case of a drop watch for 1.2615. Break below should target 1.2584 and 1.2560. Volatility is not high now, but it could spike during London profit taking and when NY traders join up.<\/p>\n<p><b>Article by Admiral Markets<\/b><\/p>\n<p>Source: <a href=\"http:\/\/www.admiralmarkets.com\/analytics\/technical-analysis\/pre-fomc-analysis-gbp-usd-is-close-to-support\" target=\"_blank\">PRE FOMC Analysis: GBP\/USD is close to support<\/a><\/p>\n<hr style=\"border: 1px dotted #eee;\"><a href=\"http:\/\/www.admiralmarkets.com\/\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2016\/03\/AdmiralMarkets-sig-1.png\" align=\"left\" height=\"87\" width=\"141\"><\/a><\/p><div id=\"inves-3439639727\" 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 style=\"text-align: justify;\">Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Admiral Markets The main event this month is FOMC Economic projection with statement and Federal Funds Rate decision. Market expects a hike of 0.25 % (from 0.50% to 0.75%). Any deviation from expected result will move the USD heavily. Today&#8217;s GBP data was better than expected with Average Earnings Index coming +0.2 % better [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-99555","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/99555","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=99555"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/99555\/revisions"}],"predecessor-version":[{"id":99556,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/99555\/revisions\/99556"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=99555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=99555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=99555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}