{"id":1368,"date":"2009-04-14T10:09:34","date_gmt":"2009-04-14T15:09:34","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1368"},"modified":"2009-04-14T10:09:34","modified_gmt":"2009-04-14T15:09:34","slug":"gbpusd-daily-commentary-for-41409","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/14\/gbpusd-daily-commentary-for-41409\/","title":{"rendered":"GBP\/USD Daily Commentary for 4.14.09"},"content":{"rendered":"<p><span style=\"color: #888888;\">By Fast Brokers<\/span><\/p>\n<p>The Cable is making vast strides to the upside, positioning itself for a breakout opportunity as it continues to bask in the glory of this month\u2019s all-around positive economic data from Britain.\u00a0 The GBP\/USD is battling with our 2nd tier uptrend line as we speak.\u00a0 If the currency pair can climb above April and February highs we could witness some large near-term gains as it looks to tackle the highly psychological 1.50 level.\u00a0 The relative strength of the Pound is reflected in the freefall of the EUR\/GBP.\u00a0 However, we wouldn\u2019t be surprised to see the EUR\/GBP find some solid near-term support, meaning that if the GBP\/USD does break out, the rally could experience some profit-taking relatively quickly.\u00a0 That being said, Britain only has two medium-weight economic releases on slate for this week, meaning that Cable should have little news to deflect its rise.\u00a0 The only development fundamentally reversing the Cable\u2019s rally in the near-term would be a sharp downturn in U.S. equities, so keep a close eye on the S&amp;P futures.\u00a0 Fundamentally, we maintain resistance of 1.4946 with additional resistances hanging at 1.4988, 1.5028, 1.5080 and 1.5121.\u00a0 The 1.50 level serves as a key psychological barrier while the 1.45 area acts as a psychological cushion. To the downside, we find supports of 1.4883, 1.4834, 1.4770, 1.4730 and 1.4676.\u00a0\u00a0 The GBP\/USD is currently exchanging at 1.4902.<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/4_14pound.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/4_14pound.gif\" alt=\"\" width=\"595\" height=\"500\" \/><\/a><\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?PL080\" target=\"_blank\"><span style=\"text-decoration: underline;\"><strong>Fast Brokers<\/strong><\/span><\/a>.<\/p>\n<p><strong>Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regardedneither 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 making vast strides to the upside, positioning itself for a breakout opportunity as it continues to bask in the glory of this month\u2019s&#8230;<\/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-1368","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1368","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=1368"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1368\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}