{"id":9842,"date":"2010-05-31T11:21:47","date_gmt":"2010-05-31T15:21:47","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9842"},"modified":"2010-05-31T11:21:47","modified_gmt":"2010-05-31T15:21:47","slug":"gbpusd-continues-to-battle-1-45","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/31\/gbpusd-continues-to-battle-1-45\/","title":{"rendered":"GBP\/USD Continues to battle 1.45"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Cable is stabilizing above Friday\u2019s lows after the risk trade got hit by news that Fitch is downgrading Spain\u2019s debt.\u00a0 However, as with the EUR\/USD, losses in the Cable were limited and the currency pair is still comfortable above previous May lows.\u00a0 Hence, it seems investors are making an effort to establish a base despite the continuous negative news flow.\u00a0 1.45 appears to be a key level at the moment and the Cable may need a meaningful positive psychological event in order to break free to the topside.\u00a0 Meanwhile, negative psychological headwinds remain and the road to the topside is riddled with challenges.\u00a0 Therefore, investors should keep an active eye on the news wire.\u00a0 The data wire will pick back up tomorrow with the release of China\u2019s manufacturing PMI followed by key Australian data and an RBA rate decision.\u00a0 Later the UK will print its own manufacturing PMI and the Halifax HPI is tentative.\u00a0 Hence, despite today\u2019s stability we can expect activity to pick up as the trading week progresses.<\/p>\n

Technically speaking, the Cable faces multiple downtrend lines along with intraday and 5\/28 highs.\u00a0 Additionally, the psychological 1.45 area could continue to 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.\u00a0 Furthermore, the psychological 1.42 level could serve as a technical cushion if it\u2019s reached.<\/p>\n

Present Price: 1.4477
\nResistances: 1.4498, 1.4521, 1.4543, 1.4584, 1.4626, 1.4671
\nSupports: 1.4432, 1.4409, 1.4387, 1.4359, 1.4326, 1.4301
\nPsychological: 1.42, 1.45, May 2010 and February 2009 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 stabilizing above Friday\u2019s lows after the risk trade got hit by news that Fitch is downgrading Spain\u2019s debt.\u00a0 However, as with the EUR\/USD, losses in the Cable were limited and the currency pair is still comfortable above previous May lows.\u00a0 Hence, it seems investors are making an effort … <\/p>\n

Continue reading “GBP\/USD Continues to battle 1.45”<\/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-9842","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9842","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=9842"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9842\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}