By Forex Signs, Inc.<\/p>\n
GBPUSD continued its bearish trend, as seen on H1 chart, while price is consolidating between immediate support level of 1.5389 and immediate resistance level of 1.5434. Currently, price is testing the immediate resistance as it tries to make a bullish reversal. If price is able to make a break above the immediate resistance of 1.5493, a bullish reversal may happen. If price continues to fall breaking the immediate support it may suggest that a continuation of the bearish trend and would validate the sell bias. RSI (14) remains within neutral zone, suggesting the current bearish trend may continue.<\/p>\n
Recent Quake Weakens Kiwi<\/p>\n
The Kiwi is possibly looking at a downward trend against US dollar as reports show that New Zealand is experiencing a slow economic growth. The stall in their economy is due to the lagging of their housing and manufacturing sector. The lagging began when the nation’s worst earthquake in eight decades occurred last September 4. The quake measured a magnitude 7 and it shook Christchurch city. It is only now that the aftermath is felt since as indicators for the third quarter were released.<\/p>\n
Further, the sluggish growth adds to the case for central bank Governor Alan Bollard to keep interest rates unchanged to revitalize consumer confidence from a 17-month low and shore up housing demand. As a result, the Kiwi is being pushed further down. Economists say that New Zealand’s currency might show more weakness next year.<\/p>\n
Yesterday’s Asian session surprised traders as the three musketeers of the Asian currency rallied against Fiber and Greenback. Despite absence of economic indicators for Japan, Australia, and New Zealand, the three currencies were unstoppable in reaching a bullish sentiment. Their increases were probably because traders seek for a currency haven as the Fiber and Greenback were fighting against each other of which currency should trade higher.<\/p>\n
For today’s session, the events of yesterday would probably just mirror as there are no indicators for tomorrow. However, any market moving event that may transpire in America and Europe might cause the Asian currencies to fall as they have been on a pedestal for the entire week already. The need for neutralization is already urgent.<\/p>\n
Forex Signs, Inc., Founded in 2006 in Wall Street, New York City, FSI relentlessly strives to be the premier Forex brokerage company in the industry by providing exclusive and unmatched trading and investment related services while constantly developing innovative solutions that cater to the vast requirements of both individual and institutional market participants.<\/p>\n","protected":false},"excerpt":{"rendered":"
GBPUSD continued its bearish trend, as seen on H1 chart, while price is consolidating between immediate support level of 1.5389 and immediate resistance level of 1.5434. Currently, price is testing the immediate resistance<\/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-17274","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17274","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=17274"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17274\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=17274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=17274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=17274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}