{"id":5833,"date":"2010-01-13T11:00:50","date_gmt":"2010-01-13T16:00:50","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5833"},"modified":"2010-01-13T11:00:50","modified_gmt":"2010-01-13T16:00:50","slug":"gbpusd-pops-as-dollar-falls-across-the-board","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/13\/gbpusd-pops-as-dollar-falls-across-the-board\/","title":{"rendered":"GBP\/USD Pops as Dollar Falls Across the Board"},"content":{"rendered":"

By Fast Brokers <\/strong>– The Cable has broken through previous January highs as we witness weakness in the Dollar across the board.\u00a0 Strength in the Cable comes despite lighter than expected Manufacturing Production data which remained flat for the 2nd release in a row.\u00a0 However, investors should keep in mind that the UK\u2019s economy is more serviced based, placing slightly less weight on today\u2019s manufacturing data.\u00a0 That being said, data from the UK has been altogether solid the past couple of weeks and has allowed the Cable to post encouraging gains in the process.\u00a0 Meanwhile, investors are looking forward to tomorrow\u2019s U.S. Retail Sales data.\u00a0 Considering this week\u2019s U.S. Trade Balance data signaled an increase in imports, we could receive positive retail data tomorrow with a pickup in consumption.\u00a0 However, it remains to be seen whether an encouraging U.S. would release would have a positive or negative impact on the Cable.\u00a0 Investors should keep in mind that the Dollar strengthened in December in reaction to impressive U.S. economic data.\u00a0 Therefore, if tomorrow\u2019s retail sales print positive, the Dollar may actually benefit as opposed to the risk trade.\u00a0 Also on the agenda for tomorrow is the ECB\u2019s monetary policy meeting.\u00a0 Should the ECB alter its alternative liquidity measures or shift its monetary stance we could witness volatility across the board.\u00a0 Meanwhile, the UK should be relatively quiet on the wire, leaving the Cable\u2019s movements up to the broad-based performance of the Dollar.<\/p>\n

Technically speaking, the Cable\u2019s rally beyond previous January highs is certainly a positive development.\u00a0 Furthermore, the Cable is creating some more breathing room between present price and the psychological 1.60 level in the process.\u00a0 However, the Cable still faces multiple downtrend lines along with 12\/16 highs.\u00a0 As for the downside, the Cable has multiple uptrend lines serving as technical cushions along with 1\/12 lows and the psychological 1.60 area.<\/p>\n

Present Price: 1.6289<\/p>\n

Resistances: 1.6318, 1.6340, 1.6360, 1.6379, 1.6407, 1.6440<\/p>\n

Supports: 1.6238, 1.6201, 1.6184, 1.6151, 1.6125, 1.6088<\/p>\n

Psychological: 1.60, 1.65, December highs and January lows<\/p>\n

click to enlarge chart<\/em><\/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 has broken through previous January highs as we witness weakness in the Dollar across the board.\u00a0 Strength in the Cable comes despite lighter than expected Manufacturing Production data which remained flat for the 2nd release in a row.\u00a0 However, investors should keep in mind that the UK\u2019s economy is … <\/p>\n

Continue reading “GBP\/USD Pops as Dollar Falls Across the Board”<\/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-5833","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5833","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=5833"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5833\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}