{"id":21781,"date":"2011-06-18T09:56:57","date_gmt":"2011-06-18T13:56:57","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=21781"},"modified":"2011-06-18T09:56:57","modified_gmt":"2011-06-18T13:56:57","slug":"1-6000-significant-pivot-area-for-gbpusd","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/06\/18\/1-6000-significant-pivot-area-for-gbpusd\/","title":{"rendered":"1.6000 Significant Pivot Area For GBP\/USD"},"content":{"rendered":"<p><strong>1.6000 Significant Pivot Area For Cable<\/strong><\/p>\n<p>The current debt problems in Greece have seen a stronger dollar\u00a0and therefore a weaker pound. The UK\u00a0labour report and retail figures also disappointed and cable has been under pressure this week.<\/p>\n<p>The pound is one of the weakest currencies when referencing the <a href=\"http:\/\/www.forex-fx-4x.com\/1\/major-currencies-relative-strength-17th-june\">relative strength correlation<\/a> charts<\/p>\n<p><strong>Here are the main technicals going into next week:<\/strong><\/p>\n<p>&#8211; GBP\/USD long term trend line has broken to the downside. \u00a0Price has retraced to the trend line break area.<\/p>\n<p>&#8211; Cable formed a daily inside bar on Friday 18th June.<\/p>\n<p>&#8211; Confluence of 50 percent retrace and price pivot level at 1.6300 could see resistance as could the 61.8 percent retrace combined with trend line confluence at\u00a01.6365.<\/p>\n<p>&#8211; The 1.6500 round number is also a significant level.<\/p>\n<p>&#8211; Potential support at 1.6000. \u00a0The line chart below shows how well the level has been respected since 2009.<\/p>\n<p>Visit the authors blog for further <span style=\"text-decoration: underline;\"><a href=\"http:\/\/www.forex-fx-4x.com\">Forex Technical Analysis <\/a><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.forex-fx-4x.com\/1\/wp-content\/uploads\/2011\/06\/cablereactionto1.6000.png\" alt=\"\" width=\"500\" height=\"234\" \/><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The current debt problems in Greece have seen a stronger dollar and therefore a weaker pound. The UK labour report and retail figures also disappointed and cable has been under pressure this week.<\/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-21781","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21781","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=21781"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21781\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=21781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=21781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=21781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}