{"id":5589,"date":"2009-12-30T11:11:31","date_gmt":"2009-12-30T16:11:31","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5589"},"modified":"2009-12-30T11:11:31","modified_gmt":"2009-12-30T16:11:31","slug":"gbpusd-sets-fresh-december-lows","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/30\/gbpusd-sets-fresh-december-lows\/","title":{"rendered":"GBP\/USD Sets Fresh December Lows"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Cable was unable to hold onto its psychological 1.60 yesterday and proceeded to set new December lows as the Dollar strengthened across the board.\u00a0 We notice the USD\/JPY trading higher and the EUR\/USD moving south, indicating the Dollar\u2019s positive momentum is back in play.\u00a0 Investors are likely indicating a preference for the Dollar since the Greenback\u2019s uptrend has been positive throughout most of December, and with the data wire relative quiet for the holiday season investors seem to be reverting back to the Dollar\u2019s more dominant momentum.\u00a0 Meanwhile, investors are waiting for America\u2019s upcoming Chicago PMI release.\u00a0 The UK data wire is quiet until tomorrow\u2019s Nationwide HPI figure, so added emphasis may be placed on the Chicago PMI data should it surprise in either direction.\u00a0 That being said, activity could remain in a subdued state as investors take off for the New Year holiday.\u00a0 Regardless, investors should keep an eye on the Cable\u2019s interaction with September and October lows should they be tested.<\/p>\n

Technically speaking, the Cable\u2019s large pullback this month has sent the currency pair below some key technical levels.\u00a0 Hence, it\u2019s possible the Cable could be entering a more protracted downturn.\u00a0 However, we\u2019ll have to see whether the Dollar\u2019s present weakness can accumulate and send the Cable back above some downtrend lines.\u00a0 If not, the Cable does have some technical supports in the form of September and October lows.\u00a0 As for the topside, the Cable faces multiple downtrend lines along with 12\/29 and 12\/22 highs.<\/p>\n

Present Price: 1.5892<\/p>\n

Resistances: 1.5912, 1.5929, 1.5967, 1.5995, 1.6026, 1.6067<\/p>\n

Supports: 1.5875, 1.5845, 1.5821, 1.5793, 1.5796<\/p>\n

Psychological: 1.60, September and October lows<\/p>\n

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

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong>.<\/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 was unable to hold onto its psychological 1.60 yesterday and proceeded to set new December lows as the Dollar strengthened across the board.\u00a0 We notice the USD\/JPY trading higher and the EUR\/USD moving south, indicating the Dollar\u2019s positive momentum is back in play.\u00a0 Investors are likely indicating a preference … <\/p>\n

Continue reading “GBP\/USD Sets Fresh December 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-5589","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5589","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=5589"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5589\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}