{"id":1400,"date":"2009-04-15T10:47:13","date_gmt":"2009-04-15T15:47:13","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1400"},"modified":"2009-04-15T10:47:13","modified_gmt":"2009-04-15T15:47:13","slug":"gbpusd-daily-commentary-for-41509","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/15\/gbpusd-daily-commentary-for-41509\/","title":{"rendered":"GBP\/USD Daily Commentary for 4.15.09"},"content":{"rendered":"

By Fast Brokers<\/span><\/p>\n

The Cable has just jumped out of our 2nd tier uptrend line and February highs, leaping over 2 of 3 significant obstacles before a sizable breakout can take place.\u00a0 The third key barrier is the highly psychological 1.50 level.\u00a0 Though the Cable is climbing past 1.50 as we speak, the area could prove to be challenging in the near-term, and shouldn\u2019t go down without a fight.\u00a0 That being said, the GBP\/USD is in the process of reconfirming its uptrend as it exercises its clear dominance over the Euro and Dollar.\u00a0 With a shortage of significant economic data surfacing from Britain this week, the Pound is flying high off of its encouraging data from the past month.\u00a0 Uncertainty is brewing in the EU and U.S., giving the Pound the upper hand for the near-term.\u00a0 Hence, the Cable is running without U.S. equities right now.\u00a0 However, should U.S. markets head higher, this would only add fuel to the fire of the Cable\u2019s present rally.\u00a0 Whether and uptrend continues to materialize in the GBP\/USD over the medium-term is another question.\u00a0 We could easily see mixed data come from Britain over the next few weeks, stoking uncertainty similar to that in the U.S.\u00a0 After all, Britain and the U.S. are so intertwined, it would be hard to believe that if the U.S. economy has another setback Britain\u2019s wouldn\u2019t follow suit.\u00a0 However, right now all is good in the GBP\/USD with all indicators in the positive.\u00a0 Fundamentally, we find resistance of 1.5028 with additional resistances hanging at 1.5080, 1.5121, 1.5185 and 1.5219.\u00a0 The critical 1.50 could quickly turn into a psychological cushion with 1.55 becoming the psychological barrier. To the downside, we find supports of 1.4988, 1.4946, 1.4883, 1.4834 and 1.4770.\u00a0\u00a0 The GBP\/USD is currently exchanging at 1.5015.<\/p>\n

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

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

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

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":"

By Fast Brokers – The Cable has just jumped out of our 2nd tier uptrend line and February highs, leaping over 2 of 3 significant obstacles before a sizable breakout…<\/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-1400","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1400","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=1400"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1400\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}