{"id":9729,"date":"2010-05-26T10:55:50","date_gmt":"2010-05-26T14:55:50","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9729"},"modified":"2010-05-26T10:55:50","modified_gmt":"2010-05-26T14:55:50","slug":"gbpusd-consolidates-above-may-lows","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/26\/gbpusd-consolidates-above-may-lows\/","title":{"rendered":"GBP\/USD Consolidates Above May Lows"},"content":{"rendered":"<p><strong>By Fast Brokers <\/strong>&#8211; The Cable managed to bottom out above May lows yesterday, a positive near-term technical development as the risk trade tries to settle following last week\u2019s hefty downturn.\u00a0 The EU data wire will be relatively quiet again today, leaving the FX markets up to psychological developments in the EU.\u00a0 The U.S. will highlight the wire with DGO and new home sales figures.\u00a0 However, the stability of the Cable and the risk trade as a whole hinges on the state of the EU and ability of governmental leaders to calm markets.\u00a0 On the other hand, should investors receive another piece of bad news regarding Spain this could send the Cable on another leg to the downside.\u00a0 The data wire will carry more weight tomorrow with the UK releasing CBI realized sales followed by U.S. prelim GDP and unemployment claims.\u00a0 Also, UK nationwide HPI is due for a tentative release, though it likely won\u2019t come until Friday or the beginning of next week.\u00a0 Investors should keep an active eye on the news wires over the next 24 hours since psychological forces continue to move the markets.<\/p>\n<p>Technically speaking, the Cable faces multiple downtrend lines along with 5\/24 and 5\/14 highs.\u00a0 Additionally, the psychological 1.45 area could serve as a solid barrier should it be tested.\u00a0 As for the downside, the Cable has support in the form of intraday and 5\/20 lows.\u00a0 Furthermore, the psychological 1.42 level could serve as a technical cushion if it\u2019s reached.<\/p>\n<p>Present Price: 1.4393<br \/>\nResistances: 1.4409, 1.4443, 1.4468, 1.4498, 1.4521, 1.4543<br \/>\nSupports: 1.4362, 1.4326, 1.4301, 1.4265, 1.4232, 1.4200<br \/>\nPsychological: 1.42, 1.45, May 2010 and February 2009 lows<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/May26Cable.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/May26Cable.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 managed to bottom out above May lows yesterday, a positive near-term technical development as the risk trade tries to settle following last week\u2019s hefty downturn.\u00a0 The EU data wire will be relatively quiet again today, leaving the FX markets up to psychological developments in the EU.\u00a0 The U.S. will &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/05\/26\/gbpusd-consolidates-above-may-lows\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GBP\/USD Consolidates Above May Lows&#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-9729","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9729","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=9729"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9729\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}