{"id":8596,"date":"2010-04-15T12:01:09","date_gmt":"2010-04-15T16:01:09","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8596"},"modified":"2010-04-15T12:01:09","modified_gmt":"2010-04-15T16:01:09","slug":"gbpusd-battles-to-maintain-upward-momentum","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/15\/gbpusd-battles-to-maintain-upward-momentum\/","title":{"rendered":"GBP\/USD Battles to Maintain Upward Momentum"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Cable is holding strong despite weakness during the Asia trading session.\u00a0 China\u2019s economic data wasn\u2019t able to spur a risk rally and U.S. data has printed mixed.\u00a0 Investors are digesting today\u2019s developments and are opting to stay neutral for the time being.\u00a0 While China\u2019s GDP and Industrial Production numbers printed about in line with expectations, CPI and PPI dragged, meaning China could keep its policy loose for longer.\u00a0 This would normally be a positive for the risk trade, yet it seems the external pressure building on China to tighten is diluting the positive data.\u00a0 Meanwhile, U.S. manufacturing continues to outperform and unemployment remains at an uncomfortable level, same story different day.\u00a0 Hence, today\u2019s data supports the Fed\u2019s stance to keep its monetary policy loose for the foreseeable future, a positive catalyst for the risk trade over the medium-term.\u00a0 UK Consumer Confidence came in lower than anticipated today, yet the figure isn\u2019t having a discernable impact on the Cable.\u00a0 The UK will be relatively quiet on the data wire again tomorrow, leaving the spotlight on the U.S. with Building Permits and Prelim Consumer Sentiment on the way.\u00a0 Additionally, earnings from U.S. bellweathers could move the Dollar as they come in, so investors should keep an eye on the news wire before and after the bell.<\/p>\n

Technically speaking, the Cable faces technical barriers in the form of intraday, 2\/23, and 2\/17 highs.\u00a0 Additionally, the psychological 1.55 level could continue to serve as a solid obstacle over the near-term.\u00a0 As for the downside, the Cable has multiple uptrend lines serving as technical cushions along with intraday, 4\/13, and 4\/8 lows.\u00a0 Additionally, the psychological 1.54 area could continue to serve as a solid support.
\nPresent Price: 1.5470
\nResistances: 1.5470, 1.5494, 1.5522, 1.5539, 1.5554, 1.5575
\nSupports: 1.5444, 1.5429, 1.5404, 1.5386, 1.5358, 1.5337
\nPsychological: 1.55, 1.54, 1.53, February highs and April 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 is holding strong despite weakness during the Asia trading session.\u00a0 China\u2019s economic data wasn\u2019t able to spur a risk rally and U.S. data has printed mixed.\u00a0 Investors are digesting today\u2019s developments and are opting to stay neutral for the time being.\u00a0 While China\u2019s GDP and Industrial Production numbers printed … <\/p>\n

Continue reading “GBP\/USD Battles to Maintain Upward Momentum”<\/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-8596","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8596","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=8596"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8596\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}