{"id":2661,"date":"2009-06-25T09:11:45","date_gmt":"2009-06-25T14:11:45","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=2661"},"modified":"2009-06-25T09:11:45","modified_gmt":"2009-06-25T14:11:45","slug":"gbpusd-reverses-towards-tuesday-lows","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/06\/25\/gbpusd-reverses-towards-tuesday-lows\/","title":{"rendered":"GBP\/USD Reverses Towards Tuesday Lows"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Cable failed to tackle June highs and proceeded to reverse course on comparable volume to the downside.\u00a0 We notice a similar price\/volume pattern in the EUR\/USD, indicating investors are very indecisive right now.\u00a0 Investors aren\u2019t sure whether to fully commit to an economic recovery, so the bulls and bears are engaging in a head-on battle.\u00a0 The Cable has ducked back down towards June 23rd lows.\u00a0 Investors are defending this level for the 6th time this month, developing a consistent trading range in the process.\u00a0 Bulls have come to the rescue time and again in June since Britain\u2019s economic data has been more optimistic than that of the U.S. and EU.\u00a0 Indecisiveness and yo-yoing is prevalent across the marketplace.\u00a0 Therefore, the Cable is not alone in its behavior.<\/p>\n

Meanwhile, the GBP\/USD is building up a nice base to build from should the uptrend kick back in.\u00a0 Speaking of trends, our 3rd tier uptrend and downtrend lines are reaching an inflection point today, supporting our prediction of heightened volatility.\u00a0 Investors should keep an eye on the S&P futures and their ability to hold the 870-890 area to the downside.\u00a0 Should U.S. equities make a game-changing break to the south, the GBP\/USD and EUR\/USD would likely be inclined to follow suit due to positive correlations.\u00a0 Due to the mixed behavior exhibited by the Dollar as of late, we are in a neutral stance as we wait for investors to make a directional decision.\u00a0 Regardless, the GBP\/USD should maintain an overall relative strength as long as British economic data impresses analysts.\u00a0 Even if the Cable should drop beneath June 23rd low, the currency pair has several medium-term uptrend lines and the psychological 1.60 level for support.\u00a0 As for the upside, we will need to see the GBP\/USD clear our trend lines and previous June lows on considerable volume for us to reactive our bullish outlook.<\/p>\n

Present Price: 1.6275<\/p>\n

Resistances: 1.6315, 1.6371, 1.6412, 1.6472, 1.6538<\/p>\n

Supports: 1.6263, 1.6210, 1.6148, 1.6104, 1.6006<\/p>\n

Psychological: 1.65, 1.60<\/p>\n

\"\"<\/a><\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong><\/span><\/a>.<\/p>\n

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

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":"

By Fast Brokers – The Cable failed to tackle June highs and proceeded to reverse course on comparable volume to the downside.\u00a0 We notice a similar price\/volume pattern in the EUR\/USD, indicating investors are very indecisive right now.\u00a0 Investors aren\u2019t sure whether to fully commit to an economic recovery, so the bulls and bears are … <\/p>\n

Continue reading “GBP\/USD Reverses Towards Tuesday Lows”<\/span><\/a><\/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-2661","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2661","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=2661"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2661\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=2661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=2661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=2661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}