1. News: US will be announcing Home Sales at 2200hrs. The result, should it fall out of expectation will send the dollars weaken.
2. Stock Mkt: US Market did a profit taking yesterday with DOW gaining 100 points after losing more than 300 points last week. Results of good earning helped push the market up.
3. Currency: Dollars weaken on overll with all major currency. Signs of further weakening is there.
4. Technicals: GBP zoom passed 2.0500 and sailed pass EMA200 on the 1 hour chart, clearing with ease 2.0420. As such, that formed a good support line, with much potential for GBP to hit a new high of 2.0600
5. Personal View: US economy has showed signs of weakness and with no UK news to counter, the dollars is expected to weaken against the GBP. Of course, 2.0420 give the support. CCI from 1 day chart showed a contiune movement up to bring GBP to a overbought position. The high is set at 2.0765. Of course and naturally 2.0650 (all time high) give the resistance.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment