{"id":10052,"date":"2010-06-08T08:14:16","date_gmt":"2010-06-08T12:14:16","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10052"},"modified":"2010-06-08T08:14:16","modified_gmt":"2010-06-08T12:14:16","slug":"gbpusd-holds-strong-above-may-lows","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/08\/gbpusd-holds-strong-above-may-lows\/","title":{"rendered":"GBP\/USD Holds Strong Above May Lows"},"content":{"rendered":"<p><strong>By Fast Brokers <\/strong>&#8211; The Cable is gravitating towards 1.45 while managed to hold strong above May lows.\u00a0 Meanwhile, the EUR\/GBP continues its freefall as the Pound outperforms amid uncertainty in the EU.\u00a0 Keep in mind UK data has been solid lately, giving investors ample reason to hold onto the Pound despite major headwinds blowing from the EU.\u00a0 However, should the EUR\/USD continue its rapid decline then the Cable may snap and follow suit sooner or later.\u00a0 Lasting strength in the Cable could depend on Thursday\u2019s BoE meeting.\u00a0 Even though UK inflation is higher than the central bank\u2019s target, the BoE\u2019s hands may be tied considering the present fragility of the global economy.\u00a0 Meanwhile, EU finance ministers will meet to try and reassure markets that the situation is under control, though the truth is far from it.\u00a0 However, should finance ministers emerge from the meeting with little accomplished then the risk trade could take another blow.\u00a0 Psychological forces should drive the FX markets until Thursday due to the relatively light data wire around the globe.\u00a0 Hence, markets are all about news over the next 48 hours and we\u2019ll have to wait and see whether another development crops up.<\/p>\n<p>Technically speaking, the Cable still faces multiple downtrend lines along with 5\/28 and 6\/2 highs.\u00a0 As for the downside, 1.45 could become a technical cushion once again along with 6\/7 and 5\/25 lows.<\/p>\n<p>Present Price: 1.4489<br \/>\nResistances: 1.4498, 1.4526, 1.4554, 1.4587, 1.4609, 1.4640, 1.4673<br \/>\nSupports: 1.4440, 1.4409, 1.4382, 1.4348, 1.4321, 1.4301<br \/>\nPsychological: 1.45, June highs and May lows<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/June8Cable.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/June8Cable.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/a><\/p>\n<p>(click chart to enlarge)<\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?CP001\" target=\"_blank\"><strong>Fast                                  Brokers<\/strong>.<\/a><\/p>\n<p><strong>Disclaimer:<\/strong> FastBrokers\u2019 market commentary is                                  provided for information purposes only and   under    no               circumstances        should        be regarded    neither   as  an       investment        advice nor as a           solicitation     or      an    offer     to sell\/buy     any       financial  product.          FastBrokers     assumes      no             responsibility   or  liability    from  gains  or         losses       incurred by      the            information herein      contained.<\/p>\n<p><strong>Risk Disclosure:<\/strong> There is a substantial risk of loss                                  in trading futures and foreign  exchange.        Please           carefully        review     all      risk   disclosure      documents    before        opening an    account      as   these           financial       instruments  are   not      appropriate      for all          investors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Fast Brokers &#8211; The Cable is gravitating towards 1.45 while managed to hold strong above May lows.\u00a0 Meanwhile, the EUR\/GBP continues its freefall as the Pound outperforms amid uncertainty in the EU.\u00a0 Keep in mind UK data has been solid lately, giving investors ample reason to hold onto the Pound despite major headwinds blowing &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/06\/08\/gbpusd-holds-strong-above-may-lows\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GBP\/USD Holds Strong Above May Lows&#8221;<\/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-10052","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=10052"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10052\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}