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 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 [...]
Afternoon Forex Overview
March 17, 2010 by Dukascopy · Leave a Comment
Previous session overview The volatile British pound is higher late Wednesday morning after the release of some unexpectedly robust domestic jobs data while the dollar has ceded ground against a number of more risk-sensitive currencies. The pound was propelled higher after the U.K. government reported that the number of people claiming unemployment benefits fell 32,200 [...]
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 Crosses
March 15, 2010 by FX Instructor · Leave a Comment
EURJPY Forecast The EURJPY failed to continue its bullish momentum yesterday, bottomed at 123.32 and closed at 123.72. The bias is bearish in the nearest term but the bullish scenario should remain intact as long as price still move inside the bullish channel. A violation to the bearish channel and a break below 123.00 area [...]
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 [...]
Daily Forecast for Crosses
March 14, 2010 by FX Instructor · Leave a Comment
EURJPY Forecast The EURJPY attempted to push higher on Friday, topped at 125.19 but closed lower at 124.47. The bullish scenario, after it touched the double bottom around the 119.70 area, remains intact but we need a consistent move above 125.15 resistance area to continue further the bullish momentum targeting 126.90 area. The bias is [...]
GBP/USD Key Support at 1.5030
March 12, 2010 by Juan P. Bejarano · Leave a Comment
The Pound found strong demand at the aforementioned 1.4873 level and has extended a rally towards the previous high just under 1.5200. Near term bias is slightly turned to the upside as a correction in the pair seems imminent. Medium to longer term continues to be set to the downside on deficit and political concern. [...]
