{"id":7868,"date":"2010-03-23T12:39:22","date_gmt":"2010-03-23T16:39:22","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7868"},"modified":"2010-03-23T12:39:22","modified_gmt":"2010-03-23T16:39:22","slug":"gbpusd-climbs-as-risk-trade-stabilizes","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/23\/gbpusd-climbs-as-risk-trade-stabilizes\/","title":{"rendered":"GBP\/USD Climbs as Risk Trade Stabilizes"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Cable has recovered nicely from intraday lows and is presently climbing higher with the broad-based risk trade.\u00a0 The Cable has foregone a retest of Tuesday lows thus far while its psychological 1.50 area has proven resilient.\u00a0 The Cable has locked backed into its March trading range in the process with the UK budget coming tomorrow.\u00a0 Though investors aren\u2019t expecting anything earth shattering tomorrow due to upcoming parliamentary elections, if Darling should manage to trim the UK budget this could boost the Cable since investors have become increasingly anxious concerning rising debt levels.\u00a0 Meanwhile, investors continue to focus on the EU as leaders jostle for position in regards to whether the union should offer Greece financial assistance.\u00a0 Greece could set an example for how the EU deals with other debt-laden European nations, so the debate has becomes heated as most investors know.\u00a0 What happens in the EU could influence the risk trade as a whole, so investors should keep a close eye on what comes out of this week\u2019s EU meeting.\u00a0 Data wise, UK CPI printed a hair below analyst expectations, yet remains at elevated levels.\u00a0 Hence, the BoE will likely remain somewhat concerned about inflationary pressures in the UK, a positive for the Cable.\u00a0 BBA Mortgage Approvals improved while CBI Realized Sales disappointed.\u00a0 Therefore, today\u2019s UK data paints a mixed picture.\u00a0 The U.S. and EU will print key data tomorrow along with the UK\u2019s budget release.\u00a0 Hence, tomorrow could prove to be an active trading session.<\/p>\n

Technically speaking, the Cable still has multiple uptrend lines serving as technical cushions along with intraday, 3\/22, and\u00a0 3\/10 lows.\u00a0 Additionally, the psychological 1.50 could continue to serve as a solid technical cushion should it be retested.\u00a0 As for the topside, the Cable faces multiple downtrend lines along with 3\/22 and 3\/12 highs.<\/p>\n

Present Price: 1.5074
\nResistances: 1.5087, 1.5105, 1.5130, 1.5147, 1.5169, 1.5193
\nSupports: 1.5040, 1.5022, 1.5006, 1.4994, 1.4977, 1.4957
\nPsychological: 1.50, March lows<\/p>\n

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

(click chart 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 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

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 recovered nicely from intraday lows and is presently climbing higher with the broad-based risk trade.\u00a0 The Cable has foregone a retest of Tuesday lows thus far while its psychological 1.50 area has proven resilient.\u00a0 The Cable has locked backed into its March trading range in the process with … <\/p>\n

Continue reading “GBP\/USD Climbs as Risk Trade Stabilizes”<\/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-7868","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7868","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=7868"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7868\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}