{"id":5905,"date":"2010-01-15T13:26:13","date_gmt":"2010-01-15T18:26:13","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5905"},"modified":"2010-01-15T13:26:13","modified_gmt":"2010-01-15T18:26:13","slug":"gbpusd-weakens-following-sluggish-u-s-econ-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/15\/gbpusd-weakens-following-sluggish-u-s-econ-data\/","title":{"rendered":"GBP\/USD Weakens Following Sluggish U.S. Econ Data"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Cable is finally giving into intraday risk-aversion following weaker than expected Prelim UoM Consumer Sentiment and Industrial Production data.\u00a0 The AUD\/USD and S&P futures also pulled back in reaction to the release, signaling investors are becoming a bit cautious in regards to the health of the global economy.\u00a0 The risk trade was hit by a few developments earlier today, most notably more cautionary words from the EU in regards to the health of Greece\u2019s economy.\u00a0 The EUR\/USD proceeded to sell-off aggressively while the Cable held its ground highlighted by a huge leg down in the EUR\/GBP.\u00a0 Furthermore, the AUD\/USD weakened as investors reacted to signs that China is tightening liquidity in fear that this will decrease demand for Australia\u2019s commodities.\u00a0 The reality that China is trying to cool down its economy could have a negative global impact since China has been the engine to the economic recovery.\u00a0 Hence, today\u2019s risk-aversion has both fundamental and psychological backing, enticing the Cable to follow suit despite recent resilience.\u00a0 The UK will light up the wires again next Tuesday with the release of CPI.\u00a0 The BoE monitors prices closely while making decisions regarding monetary policy.\u00a0 Hence, sluggish CPI could deliver a blow to the Pound\u2019s recent relative strength.\u00a0 On the other hand, a positive CPI number could help the Cable stabilize and maintain its solid uptrend.<\/p>\n

Technically speaking, we recognize the Cable\u2019s trend lines are approaching inflection points, a signal that heightened volatility could be approaching.\u00a0 Meanwhile, the Cable is still trading above 1\/04 highs with multiple uptrend lines serving as technical cushions.\u00a0 As for the topside, the Cable faces multiple downtrend lines along with 1\/15 and 12\/16 highs.\u00a0 Therefore, the Cable has solid technical levels on either side.<\/p>\n

Present Price: 1.6265<\/p>\n

Resistances: 1.6262, 1.6238, 1.6214, 1.6184, 1.6161, 1.6133<\/p>\n

Supports: 1.6318, 1.6340, 1.6360, 1.6379, 1.6407, 1.6431<\/p>\n

Psychological: 1.60, 1.65, January highs and 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 finally giving into intraday risk-aversion following weaker than expected Prelim UoM Consumer Sentiment and Industrial Production data.\u00a0 The AUD\/USD and S&P futures also pulled back in reaction to the release, signaling investors are becoming a bit cautious in regards to the health of the global economy.\u00a0 The risk … <\/p>\n

Continue reading “GBP\/USD Weakens Following Sluggish U.S. Econ 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-5905","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5905","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=5905"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5905\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}