{"id":6294,"date":"2010-01-27T10:33:32","date_gmt":"2010-01-27T15:33:32","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6294"},"modified":"2010-01-27T10:33:32","modified_gmt":"2010-01-27T15:33:32","slug":"gbpusd-consolidates-ahead-of-data-and-fed","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/27\/gbpusd-consolidates-ahead-of-data-and-fed\/","title":{"rendered":"GBP\/USD Consolidates Ahead of Data and Fed"},"content":{"rendered":"

By Fast Brokers <\/strong>– The Cable has stabilized along our 1st tier uptrend line and is consolidating as investors await UK CB Realized Sales followed by U.S. New Home Sales and the Fed\u2019s monetary policy decision.\u00a0 Furthermore, Obama will deliver his State of the Union tonight with possible budget proposals in the mix.\u00a0 Hence, investors will have plenty to digest and this could lead to additional volatility in the FX markets.\u00a0 Britain\u2019s disappointing GDP data sent the Pound reeling yesterday, so it will be interesting to see how today\u2019s realized sales number pans out.\u00a0 Although the Cable has managed to stabilize, a weaker than expected CB release could send the Cable a step lower.\u00a0 Meanwhile, our 1st tier downtrend line is approaching an inflection point with our 1st tier uptrend line, meaning activity in the Cable could pick up soon.\u00a0 That being said, investors should pay close attention to gold and the S&P futures, particularly gold\u2019s ability to hold above previous January lows.\u00a0 A pullback in gold and\/or equities could signal another leg up in the Dollar due to correlative forces.<\/p>\n

Technically speaking, despite yesterday\u2019s setback in the Cable the currency pair still has multiple uptrend lines serving as technical cushions along with 1\/22 lows and the psychological 1.60 level should it be tested.\u00a0 As for the topside, the Cable faces multiple downtrend lines along with 1\/04, 1\/21 and 1\/15 highs.\u00a0 Therefore, although the Cable\u2019s uptrend line has been dealt a blow today, the currency pair still has some wiggle room on both sides.<\/p>\n

Present Price: 1.6136<\/p>\n

Resistances: 1.6143, 1.6170, 1.6195, 1.6223, 1.6247, 1.6264<\/p>\n

Supports: 1.6119, 1.6092, 1.6073, 1.6048, 1.6023, 1.6001<\/p>\n

Psychological: 1.60, 1.65, January highs and 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 has stabilized along our 1st tier uptrend line and is consolidating as investors await UK CB Realized Sales followed by U.S. New Home Sales and the Fed\u2019s monetary policy decision.\u00a0 Furthermore, Obama will deliver his State of the Union tonight with possible budget proposals in the mix.\u00a0 Hence, investors … <\/p>\n

Continue reading “GBP\/USD Consolidates Ahead of Data and Fed”<\/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-6294","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6294","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=6294"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6294\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}