GBP/USD UK Data Surprises Higher; Downward Revision (1.4864)
March 25, 2010 by Juan P. Bejarano · Leave a Comment
The Pound recovered some ground ahead of the UK retail sales figures and extended its gain on better-than-expected data. Although UK retail sales rose by 2.1%, a revision to last month’s data of -0.8% to -3.0% mitigated the gains in February. The currency spiked higher but reversed gains post data. Bias is mixed-to-bearish in the [...]
GBP/USD Attempts to Hold 1.5000
March 23, 2010 by Juan P. Bejarano · Leave a Comment
The Pound weakened further in Europe on risk aversion and UK economic fundamentals. CPI, although still above the Banks target rate, came in at 3.0% compared to the previous 3.5%. CBI realized sales declined to show a balance of 13, below estimates of 18 and the prior 23. Tomorrow is the highly awaited Annual Budget [...]
GBP/USD Resistance at 1.5150
March 22, 2010 by Forex District · 4 Comments
The Pound weakened further at the start of the week as risk aversion and UK debt and economic concerns linger. Fears of a double dip recession, risk aversion, debt, and political uncertainty are likely to keep the Sterling on the back-burner. Near term bias is tilted to the downside ahead of the annual budget release. [...]
GBP/USD Cautious Outlook
March 18, 2010 by Juan P. Bejarano · 4 Comments
Despite positive economic news yesterday, investors are trimming their long positions as risk aversion is taking center stage. Data out today was rather mixed, with public sector net borrowing rising nicely, while CBI industrial order expectations weakening more than expected. Any rallies in the pair should be limited for now, as traders will be cautious [...]
GBP/USD Trade Idea at 1.5250
March 17, 2010 by Juan P. Bejarano · 3 Comments
The Pound rose sharply yesterday as the FOMC statement confirmed that the FED Funds rate will remain at exceptionally low levels for an extend period of time. Ahead of the claimant count change and MPC meeting minutes traders may cut exposure on GBP. Trend: Weekly : Sideways Daily: Sideways Hourly: Sideways Support & Resistance: From [...]
Daily Forecast for Majors
March 15, 2010 by Forex District · Leave a Comment
EURUSD Forecast: The EURUSD failed to continue its bullish momentum yesterday, bottomed at 1.3640 and closed at 1.3674 after bad US TIC long term purchases number triggered risk aversion. This fact leads me to a no trading zone in the nearest term as direction is unclear but the bullish reversal scenario triggered by the triple [...]
Forex: The Risk Today
March 15, 2010 by AC-Markets · Leave a Comment
The Risk Today: EurUsd There was cause for celebration for EURUSD bulls on Friday as excellent Eurozone data and improvement in risk appetite conspired to push the pair up through 1.3535 range highs, and even on to puncture the long term downtrend at 1.3780. As we noted on Friday however, the 1.3800 fibonacci level (50% [...]
GBP/USD Plummets from Above the 1.5200
March 15, 2010 by Juan P. Bejarano · Leave a Comment
The Pound came under pressure Monday with risk aversion creeping back into the markets as mixed news continue to alter investor’s sentiment. Overnight, UK Rightmove housing data printed the weakest March reading on record adding negative signs to the housing market. In addition, a series of warning news dampened demand for the currency. BoE’ Barker [...]
