{"id":11188,"date":"2010-07-19T15:46:47","date_gmt":"2010-07-19T19:46:47","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=11188"},"modified":"2010-07-19T15:46:47","modified_gmt":"2010-07-19T19:46:47","slug":"gbpusd-continues-slide-to-1-52","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/07\/19\/gbpusd-continues-slide-to-1-52\/","title":{"rendered":"GBP\/USD continues slide to 1.52"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Cable is trying to balance above our key medium-term downtrend line originating from November \u201909 highs and connecting through January highs as the currency pair extends its decline from Friday.\u00a0 Investor sentiment is still rattled from last week\u2019s disconcerting U.S. data and the risk trade is struggling across the board.\u00a0 The UK was quiet on the data wire again today, meaning the Cable is just following correlative forces for the time being.\u00a0 However, the UK will light up the data wire tomorrow with the release of prelim mortgage approvals, public sector borrowing, and industrial order expectations.\u00a0 Additionally, investors will digest housing data from the U.S. and the RBA\u2019s meeting minutes.\u00a0 If the UK\u2019s data prints positive this could help bolster the Cable and help the currency pair hold above our medium-term downtrend line.\u00a0 Meanwhile, investors are brushing aside negative news from Ireland and Hungary.\u00a0 Moody\u2019s downgraded Ireland\u2019s debt by a notch and Hungary walked away from negotiations with the IMF and EU concerning the remainder of its emergency funds.\u00a0 Even though investors have shrugged at the news, we suggest keeping an eye on the situation in Hungary since EU banks have sizable exposure to Eastern European economies.\u00a0 If the situation deteriorates investor uncertainty could rise and rattle the Euro, a negative for the risk trade as a whole.<\/p>\n

Technically speaking, the Cable has multiple uptrend lines serving as technical cushions along with intraday and 7\/7 lows.\u00a0\u00a0 Additionally, the highly psychological 1.50 level should serve as a solid technical cushion should it be reached.\u00a0 As for the topside, the Cable faces technical barriers in the form of intraday highs and 7\/15 highs along with the psychological 1.55 level should it be tested.<\/p>\n

Present Price: 1.5217
\nResistances: 1.5224, 1.5242, 1.5274, 1.5295, 1.5324, 1.5350
\nSupports: 1.5204, 1.5184, 1.5164, 1.5140, 1.5111, 1.5079
\nPsychological: 1.55, 1.50<\/p>\n

\"\"<\/a><\/p>\n

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(click chart to enlarge)<\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers.<\/a><\/strong><\/p>\n

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

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<\/div>\n","protected":false},"excerpt":{"rendered":"

By Fast Brokers – The Cable is trying to balance above our key medium-term downtrend line originating from November \u201909 highs and connecting through January highs as the currency pair extends its decline from Friday.\u00a0 Investor sentiment is still rattled from last week\u2019s disconcerting U.S. data and the risk trade is struggling across the board.\u00a0 … <\/p>\n

Continue reading “GBP\/USD continues slide to 1.52”<\/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-11188","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11188","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=11188"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11188\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=11188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=11188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=11188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}