{"id":7351,"date":"2010-03-05T12:11:25","date_gmt":"2010-03-05T17:11:25","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7351"},"modified":"2010-03-05T12:11:25","modified_gmt":"2010-03-05T17:11:25","slug":"gbpusd-fluctuates-as-investors-digest-u-s-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/05\/gbpusd-fluctuates-as-investors-digest-u-s-data\/","title":{"rendered":"GBP\/USD Fluctuates as Investors Digest U.S. Data"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Cable is holding strong despite an intraday retest of 1.50.\u00a0 The Cable reacted badly to stronger than expected U.S. employment data this morning.\u00a0 However, the Dollar rally is fading and the risk rally is coming back with the Euro and Aussie also firming.\u00a0 Strong U.S. employment data spurs speculation that the Fed could tighter sooner than expected, resulting in the Dollar rush we just witnessed.\u00a0 Investors are now choosing the risk trade instead since continual improvement in the U.S. economy could result in stability throughout the globe.\u00a0 That being said, it will be interesting to see how the trading session plays out considering this morning\u2019s volatility.\u00a0 Data is complete for the week, meaning investors will continue to work off of today\u2019s releases.\u00a0 UK PPI printed in line with analyst expectations today, reassuring investors that inflation is under control.\u00a0 Meanwhile, the Pound is still enjoying a little relative strength derived from this week\u2019s encouraging Services PMI data.\u00a0 The UK will start next week with BRC Retail Sales Monitor and RICS House Price Balance releases.\u00a0 However, these data points likely won\u2019t be big market movers, meaning the FX markets could begin the trading week on a quiet note.\u00a0 However, there remains the possibility of a psychological flare up concerning UK and EU debt levels.\u00a0 Additionally, a considerable downward pressure is still weighing down on the Cable, meaning the Cable could need a big jolt to get out of its slump.\u00a0 Meanwhile, it will be interesting to see if the Cable can continue to build a base above 1.50 and March lows.<\/p>\n

Technically speaking, the Cable has our 1st and 2nd tier uptrend lines serving as technical cushions along with intraday and 3\/3 lows.\u00a0 Additionally, the psychological .150 level could work in the Cable\u2019s favor shout it be retested.\u00a0 As for the topside, the Cable faces multiple downtrend lines.\u00a0 Our top tier downtrend line does run through 2\/26 highs, meaning a breakout could yield substantial near-term gains should fundamental and psychological factors work in the Cable\u2019s favor.<\/p>\n

Present Price: 1.5038<\/p>\n

Resistances: 1.5044, 1.5060, 1.5074, 1.5092, 1.5108, 1.5121<\/p>\n

Supports: 1.5031, 1.5016, 1.5003, 1.4991, 1.4975, 1.4960<\/p>\n

Psychological: 1.50, March lows<\/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 is holding strong despite an intraday retest of 1.50.\u00a0 The Cable reacted badly to stronger than expected U.S. employment data this morning.\u00a0 However, the Dollar rally is fading and the risk rally is coming back with the Euro and Aussie also firming.\u00a0 Strong U.S. employment data spurs speculation that … <\/p>\n

Continue reading “GBP\/USD Fluctuates as Investors Digest U.S. 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-7351","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7351","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=7351"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7351\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}