{"id":7734,"date":"2010-03-19T12:50:38","date_gmt":"2010-03-19T16:50:38","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7734"},"modified":"2010-03-19T12:50:38","modified_gmt":"2010-03-19T16:50:38","slug":"gbpusd-hit-with-eu-uncertainty-and-rbi-hike","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/19\/gbpusd-hit-with-eu-uncertainty-and-rbi-hike\/","title":{"rendered":"GBP\/USD Hit with EU Uncertainty and RBI Hike"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The Cable has been clobbered today despite a lack of pertinent news and\/or data from the UK.\u00a0 EU anxiety remains at a heightened state after Sarkozy reiterated Frances support for Greece and objection to IMF involvement.\u00a0 Hence, Sarkozy is pitting France against Germany, which is becoming a heated showdown between the EU\u2019s two economic powerhouses.\u00a0 Meanwhile, Greece has set a one week timeline for and EU plan before opting to head to the IMF for help.\u00a0 All of the EU uncertainty has finally bled over into the Pound, and the Cable has taken a drubbing despite this week\u2019s surprisingly positive UK employment data.\u00a0 Additionally, the Reserve Bank of India raised rates by 25 basis points, surprising FX markets and accelerating risk-averse cash flows.\u00a0 With the data-wire quiet today, psychological forces will likely remain at the steering wheel.\u00a0 Meanwhile, it will be interesting to see whether the Cable and the risk trade in general can manage to stabilize from present levels amidst this wave of uncertainty.\u00a0 The UK will kick off next week with CPI and CBI Realized Sales data points, meaning Monday could be an active session as well.\u00a0 If UK CPI should come in hot again, this could keep the BoE at bay and discourage the central bank from injecting liquidity.<\/p>\n<p>Technically speaking, the Cable still has multiple uptrend lines serving as technical cushions along with 3\/15 and 3\/16 lows.\u00a0 Additionally, the psychological 1.50 could serve as a solid technical cushion should it be tested.\u00a0 As for the topside, the Cable faces multiple downtrend lines along with intraday and 3\/16 highs.<\/p>\n<p>Present Price: 1.5074<br \/>\nResistances: 1.5086, 1.5101, 1.5112, 1.5124, 1.5143, 1.5161<br \/>\nSupports: 1.5042, 1.5026, 1.5016, 1.5002, 1.4989<br \/>\nPsychological: 1.50, March lows<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/march19pound.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/march19pound.gif\" alt=\"\" width=\"595\" height=\"606\" \/><\/a><\/p>\n<p>(click chart to enlarge)<\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?CP001\" target=\"_blank\"><strong>Fast      Brokers<\/strong>.<\/a><\/p>\n<p><strong>Disclaimer:<\/strong> FastBrokers\u2019 market commentary is      provided for information purposes only and under no circumstances should      be regarded neither 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<p><strong>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":"<p>By Fast Brokers &#8211; The Cable has been clobbered today despite a lack of pertinent news and\/or data from the UK.\u00a0 EU anxiety remains at a heightened state after Sarkozy reiterated Frances support for Greece and objection to IMF involvement.\u00a0 Hence, Sarkozy is pitting France against Germany, which is becoming a heated showdown between the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/03\/19\/gbpusd-hit-with-eu-uncertainty-and-rbi-hike\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GBP\/USD Hit with EU Uncertainty and RBI Hike&#8221;<\/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-7734","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7734","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=7734"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7734\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}