{"id":5739,"date":"2010-01-08T10:35:29","date_gmt":"2010-01-08T15:35:29","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5739"},"modified":"2010-01-08T10:35:29","modified_gmt":"2010-01-08T15:35:29","slug":"gbpusd-pops-in-reaction-to-weak-u-s-jobs-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/08\/gbpusd-pops-in-reaction-to-weak-u-s-jobs-data\/","title":{"rendered":"GBP\/USD Pops in Reaction to Weak U.S. Jobs Data"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Cable is rallying in reaction to a weaker than expected Employment Change figure.\u00a0 The Cable\u2019s response is understandable considering the Dollar\u2019s December rally was driven by a turnaround in employment data.\u00a0 It will be interesting to see if the Cable can extend its intraday gains due to the level of anticipation prior to today\u2019s data release.\u00a0 We\u2019re witnessing Dollar weakness across the board at the moment while the Pound exhibits a relative strength, as highlighted by a dip in the EUR\/GBP.\u00a0 The Pound is deriving its strength from a better than expected PPI figure in conjunction with yesterday\u2019s encouraging Halifax HPI reading.\u00a0 Hence, data from the UK has outperformed the EU during the first trading week of 2010.\u00a0 Meanwhile, stability in prices gives the BoE a little breathing room come February\u2019s monetary policy meeting in regards to maintaining a tighter monetary stance.\u00a0 For the time being it will be interesting to see whether the Cable can piece together enough upward momentum to overtake the remainder of our downtrend lines.<\/p>\n

Technically speaking, the psychological 1.60 level is serving as technical once again along with our multiple uptrend lines and 1\/07 lows.\u00a0 As for the topside, the Cable still faces multiple downtrend lines along with January highs.\u00a0 Our 4th tier downtrend line could serve as a key technical barrier since it runs through 12\/16 highs.\u00a0 Meanwhile, our 1st tier uptrend line separates the Cable from a retest of December lows.<\/p>\n

Present Price: 1.6072<\/p>\n

Resistances: 1.6085, 1.6107, 1.6152, 1.6181, 1.6219, 1.6246<\/p>\n

Supports: 1.6050, 1.6023, 1.5995, 1.5973, 1.5925, 1.5901<\/p>\n

Psychological: 1.60, January highs and lows, December lows, September lows<\/p>\n

(click to enlarge)<\/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 is rallying in reaction to a weaker than expected Employment Change figure.\u00a0 The Cable\u2019s response is understandable considering the Dollar\u2019s December rally was driven by a turnaround in employment data.\u00a0 It will be interesting to see if the Cable can extend its intraday gains due to the level of … <\/p>\n

Continue reading “GBP\/USD Pops in Reaction to Weak U.S. Jobs Data”<\/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-5739","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5739","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=5739"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5739\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}