{"id":9659,"date":"2010-05-24T10:21:24","date_gmt":"2010-05-24T14:21:24","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9659"},"modified":"2010-05-24T10:21:24","modified_gmt":"2010-05-24T14:21:24","slug":"gbpusd-rises-to-1-45","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/24\/gbpusd-rises-to-1-45\/","title":{"rendered":"GBP\/USD Rises to 1.45"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The Cable is looking to piece together some upward momentum from last week\u2019s lows as Asia markets start Monday on a positive note.\u00a0 We see gains across the board in the risk trade with investors biting on oversold conditions.\u00a0 Europe will be on a banking holiday today and this gives markets another opportunity to stabilize as the break soothes uncertainty from last week.\u00a0 The only meaningful figure on the data wire today will be U.S. existing home sales.\u00a0 UK public sector borrowing came in about in line with analyst expectations while prelim mortgage approvals decline.\u00a0 On a positive note, prelim UK business investment surged by 6%, meaning economic activity could be picking up a bit.\u00a0 Attention will now shift to tomorrow\u2019s UK revised GDP release, though it\u2019s likely any revision would be limited in scope.\u00a0 The data wire will be relatively quiet across the globe this week, meaning psychological forces should remain in control of market activity.\u00a0 Cable investors are waiting on parliament\u2019s emergency budget coming on 6\/22.\u00a0 Meanwhile, attention will likely remain focused on developments in the EU.<br \/>\nTechnically speaking, the Cable faces multiple downtrend lines along with 5\/18 and 5\/14 highs.\u00a0 Additionally, the psychological 1.45 area could serve as a solid barrier over the near-term.\u00a0 As for the downside, the Cable has support in the form of intraday and 5\/20 lows<\/p>\n<p>Present Price: 1.4495<br \/>\nResistances: 1.4495, 1.4521, 1.4543, 1.4584, 1.4623, 1.4673<br \/>\nSupports: 1.4476, 1.4431, 1.4409, 1.4387, 1.4362, 1.4326, 1.4305<br \/>\nPsychological: 1.42, 1.45, May 2010 and April 2009 lows<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/May24Cable.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/May24Cable.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/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 is looking to piece together some upward momentum from last week\u2019s lows as Asia markets start Monday on a positive note.\u00a0 We see gains across the board in the risk trade with investors biting on oversold conditions.\u00a0 Europe will be on a banking holiday today and this gives markets &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/05\/24\/gbpusd-rises-to-1-45\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GBP\/USD Rises to 1.45&#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-9659","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9659","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=9659"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9659\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}