{"id":20281,"date":"2011-03-22T08:41:49","date_gmt":"2011-03-22T12:41:49","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=20281"},"modified":"2011-03-22T08:41:49","modified_gmt":"2011-03-22T12:41:49","slug":"gbpusd-greenback-backpedals-versus-sterling-on-discouraging-housing-data-trading-flat-in-asian-session","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/03\/22\/gbpusd-greenback-backpedals-versus-sterling-on-discouraging-housing-data-trading-flat-in-asian-session\/","title":{"rendered":"GBP\/USD: Greenback backpedals versus Sterling on discouraging housing data, trading flat in Asian session"},"content":{"rendered":"

By GCI Forex Research<\/strong><\/p>\n

\n
\"GBP<\/a>GBPUSD Movement<\/p>\n<\/div>\n

For the 24 hours to 23:00 GMT, GBP rose 0.54% against the USD and closed at 1.6308.<\/p>\n

In the US, National Association of Realtors reported that the existing home sales in the US contracted by 9.6% (M-o-M) in February compared to 3.4% growth in January.<\/p>\n

The pair opened the Asian session at 1.6308, and is trading at 1.6301 at 4.00GMT. The pair is trading 0.04% lower from the New York session close.<\/p>\n

The pair has its first short term resistance at 1.6353, followed by the next resistance at 1.6404. The first support is at 1.6225, with the subsequent support at 1.6148.<\/p>\n

With a series of UK economic releases today, including Consumer and Retail Price Index, trading in the pair is expected to be influenced by the resulting cues from these releases.<\/p>\n

The currency pair is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.<\/p>\n

Forex Daily Market Commentary<\/strong><\/em> provided by<\/em><\/strong> GCI Financial Ltd<\/strong><\/a>.<\/strong><\/span><\/p>\n

GCI Financial Ltd (\u201dGCI\u201d) is a regulated securities and commodities trading firm, specializing in online Foreign Exchange (\u201dForex\u201d) brokerage. GCI executes billions of dollars per month in foreign exchange transactions alone. In addition to Forex, GCI is a primary market maker in Contracts for Difference (\u201dCFDs\u201d) on shares, indices and futures, and offers one of the fastest growing online CFD trading services. GCI has over 10,000 clients worldwide, including individual traders, institutions, and money managers. GCI provides an advanced, secure, and comprehensive online trading system. Client funds are insured and held in a separate customer account. In addition, GCI Financial Ltd maintains Net Capital in excess of minimum regulatory requirements.<\/p>\n

DISCLAIMER: GCI\u2019s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be U.S.ed as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In the US, National Association of Realtors reported that the existing home sales in the US contracted by 9.6% (M-o-M) in February compared to 3.4% growth in January. The pair opened the Asian session at 1.6308, and is trading at 1.6301 at 4.00GMT. The pair is trading 0.04% lower from the New York session close.<\/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-20281","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20281","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=20281"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20281\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}