{"id":7014,"date":"2010-02-22T11:35:32","date_gmt":"2010-02-22T16:35:32","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7014"},"modified":"2010-02-22T11:35:32","modified_gmt":"2010-02-22T16:35:32","slug":"gbpusd-cools-following-fridays-rally","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/22\/gbpusd-cools-following-fridays-rally\/","title":{"rendered":"GBP\/USD Cools Following Friday\u2019s Rally"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Cable managed to bounce a bit on Friday as the risk trade rallied with U.S. equities.\u00a0 However, the Dollar is coming off its highs across the board with today\u2019s economic calendar very quiet.\u00a0 Meanwhile, EU and U.S. uncertainty is abating after the Fed clarified that a hike in the discount does not imply an increase in the fed funds rate while no news is good news in Greece.\u00a0 However, the Euro is still in a fragile state as investors monitor whether Greece can successfully implement its proposed austerity measures.\u00a0 Additionally, there is the possibly from another unexpected flare up in the other fiscally challenged PIIGS nations.\u00a0 Therefore, investors should continue to monitor the EU news wires since we\u2019ve seen how debt issues can impact the whole FX market.\u00a0 The EUR\/GBP is coming off its highs after the Pound sank in the wake of weak retail sales data.\u00a0 That being said, investors will likely be paying closer attention to UK data releases as the surface.\u00a0 Tomorrow the UK will release BBA Mortgage Approvals to go along with the Inflation Report Hearings.\u00a0 Investors will be looking for any further insight in regards to the BoE\u2019s inflation outlook.\u00a0 However, it wouldn\u2019t be surprising if the BoE sticks to its conclusion that last month\u2019s pop in inflation was an abnormal occurrence.\u00a0 The U.S. will also release CB Consumer Confidence and S&P HPI data.\u00a0 Hence, activity could heat up again as tomorrow\u2019s trading session progresses.<\/p>\n

Technically speaking, the Cable has multiple downtrend lines serving as technical barriers along with intraday highs and the highly psychological 1.55 level should it be reached.\u00a0 As for the downside, the Cable has multiple uptrend lines serving as technical cushions (off screen) along with intraday and Friday lows.<\/p>\n

Present Price: 1.5477<\/p>\n

Resistances: 1.5486, 1.5503, 1.5524, 1.5543, 1.5582<\/p>\n

Supports: 1.5458, 1.5430, 1.5407, 1.5379, 1.5355<\/p>\n

Psychological: February lows, 1.55, 1.53<\/p>\n

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

(click to enlarge)<\/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 managed to bounce a bit on Friday as the risk trade rallied with U.S. equities.\u00a0 However, the Dollar is coming off its highs across the board with today\u2019s economic calendar very quiet.\u00a0 Meanwhile, EU and U.S. uncertainty is abating after the Fed clarified that a hike in the discount … <\/p>\n

Continue reading “GBP\/USD Cools Following Friday\u2019s Rally”<\/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-7014","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7014","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=7014"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7014\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}