{"id":18672,"date":"2011-01-26T09:19:26","date_gmt":"2011-01-26T14:19:26","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=18672"},"modified":"2011-01-26T09:19:26","modified_gmt":"2011-01-26T14:19:26","slug":"european-wrap-sterling-sees-partial-recovery-by-fastbrokers-research-team","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/26\/european-wrap-sterling-sees-partial-recovery-by-fastbrokers-research-team\/","title":{"rendered":"European Wrap: Sterling sees partial recovery; By FastBrokers Research Team"},"content":{"rendered":"<p><strong>Written by FastBrokers House<\/strong><br \/>\n<em>2011-01-26 00:00<\/em><\/p>\n<p>Better day for sterling.\u00a0 Cable up at 1.5875 from early 1.5825, EUR\/GBP down at .8633 from early .8650.<\/p>\n<p>Cable came under fairly heavy selling pressure early, reaching  session low 1.5771 before recovery.\u00a0 The recovery was helped in no small  part by buying from China.\u00a0 UK clearer noted buying aggressively as  well\u00a0and we were soon back above 1.5800.\u00a0 Asian sovereign stepped in  selling above 1.5820 and that slowed the rally for a time.<\/p>\n<p>The release of the latest BOE minutes, showing 2 MPC members now  calling for a rate hike elicited a spike higher in cable.\u00a0 The pairing  stood at 1.5825 just ahead of the release and has been pretty well  underpinned ever since.\u00a0 Middle Eastern sovereign buying has also been  noted.<\/p>\n<p>Talk now of buy stops through 1.5900 and 1.5930.<\/p>\n<p>EUR\/USD sits at 1.3705, marginally firmer from early 1.3690.\u00a0 The  pairing came under a little\u00a0pressure early, the market a little wary of  the Irish Finance Bill vote.\u00a0 We got as low as 1.3654 before recovering  strongly.\u00a0 Russia was strong buyer around lows.\u00a0 Middle Eastern\u00a0buyers  also notable.\u00a0 We quickly got over 1.3700 and managed to take out  well-touted 1.3720 dnt interest (session high 1.3721) before bout of  profit taking ensued.<\/p>\n<p>Now talk of 1.3725 barrier option interest.\u00a0 Trailing\u00a0 sell stops noted through 1.3680.<\/p>\n<p>USD\/JPY up at 82.20 from early 82.05.\u00a0 It\u2019s been all go\u2026.not really.\u00a0  US\u00a0 treasury yields are firmer this morning and that has provided the  pairing with a little support.\u00a0 Still talk of Kampo buy interest  81.90\/00. Japanese importer interest also seen down there.\u00a0 Sell stops  seen through81.85 and 81.80, take your pick. Doesn\u2019t really make much  odds.\u00a0 Trailing buy stops through 82.70.<\/p>\n<p><strong><a href=\"..\/..\/FastBrokers\/\" target=\"_blank\"><em>Market Commentary<\/em> provided by FastBrokers.<\/a><\/strong><\/p>\n<p><strong>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<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>EUR\/USD sits at 1.3705, marginally firmer from early 1.3690.  The pairing came under a little pressure early, the market a little wary of the Irish Finance Bill vote.  We got as low as 1.3654 before recovering strongly.  Russia was strong buyer around lows.<\/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-18672","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18672","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=18672"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18672\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=18672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=18672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=18672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}