{"id":1656,"date":"2009-04-29T09:51:15","date_gmt":"2009-04-29T14:51:15","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1656"},"modified":"2009-04-29T09:51:15","modified_gmt":"2009-04-29T14:51:15","slug":"gbpusd-daily-commentary-for-42909","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/29\/gbpusd-daily-commentary-for-42909\/","title":{"rendered":"GBP\/USD Daily Commentary for 4.29.09"},"content":{"rendered":"<p><span style=\"color: #888888;\">By Fast Brokers<\/span><\/p>\n<p>The Cable is climbing as investors find an appetite for risk ahead of America\u2019s Prelim GDP number.\u00a0 A better than expected Prelim GDP would likely send the major Dollar pairs higher since it would give support to the argument that the global economy is stabilizing.\u00a0 Yesterday\u2019s better than expected CBI Realized Sales data gives the Cable some added strength ahead of America\u2019s GDP release.\u00a0 With Britain\u2019s Nationwide Home Price Index coming tomorrow, the Cable should have some real directional ammo to play off of.\u00a0 A global sign of economic healing could add fire to the uptrend\u2019s belly with the Cable creeping towards April highs.\u00a0 On the other hand, if the U.S. Prelim GDP number disappoints, we wouldn\u2019t be surprised to witness a fire sale.<\/p>\n<p>April highs and the highly psychological 1.50 level serve as the key obstacles towards a noteworthy uptrend in the Cable.\u00a0 Meanwhile, the GBP\/USD still needs to fight through our 2nd tier downtrend line and 3rd tier uptrend line.\u00a0 The Cable has certainly built up a nice base since 4\/20, which should act as solid near-term protection to the downside.<\/p>\n<p>Fundamentally, we find resistances of 1.4773, 1.4826, 1.4870, 1.4905, and 1.4951.\u00a0 To the downside, we see supports of 1.4730, 1.4667, 1.4626, 1.45667, and 1.4532.\u00a0 1.45 serves as a psychological cushion with 1.50 acting as a key psychological barrier. The GBP\/USD is currently exchanging at 1.4742.<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/4_29pound.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/4_29pound.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 climbing as investors find an appetite for risk ahead of America\u2019s Prelim GDP number.  A better than expected&#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-1656","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1656","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=1656"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1656\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}