GBP/USD Analysis:
After last week of bull run, with equity market having the extra dollars to boost run, GBP and Eur both made new highs.
This week, I am expecting some consolidation.
Pound has start running up from 1.535 to 1.620. The retracement is expected at support 1.586, then 1.576.
Alternatively, Pound may attempt 1.60.
With the lack of news, I am expecting the price range between 1.6 and 1.586.
Monday, October 11, 2010
Wednesday, October 06, 2010
6 Oct 2010
GBP/USD Analysis:
As gold made new high, stock climb, Euro and GBP made new high, when will the USD retreat?
BOJ cut rate and that trigger all new hopes of easing pressure, causing most currencies to appreciate against the yen. So it is now waiting for Fed action, before USD take another low or reverese its direction.
Day chart show a potential break up towards 1.60 if resistance at 1.594 is broken. An attempt of 1.594 to 1.600 look possible today.
However if USD were to take a breather, a possible retrace is to 1.589, then to 1.587, with support at 1.583.
As gold made new high, stock climb, Euro and GBP made new high, when will the USD retreat?
BOJ cut rate and that trigger all new hopes of easing pressure, causing most currencies to appreciate against the yen. So it is now waiting for Fed action, before USD take another low or reverese its direction.
Day chart show a potential break up towards 1.60 if resistance at 1.594 is broken. An attempt of 1.594 to 1.600 look possible today.
However if USD were to take a breather, a possible retrace is to 1.589, then to 1.587, with support at 1.583.
Tuesday, October 05, 2010
5 Oct 2010
GBP/USD Analysis:
The first news in the morning was BOJ trying to reduce pressure on appreciating yen. Dow retreated before earnings report, probably soften by speech from Wen Jiabao. Woes from europe return.
These fundamental reports only add to confrim the bearish movement of the GBP. Though it shot high because of better than expected PMI report yesterday, together with the Euro, GBP has retreated this morning.
GBP is still ranged between 1.574 and 1.59. As such trade within range.
The first news in the morning was BOJ trying to reduce pressure on appreciating yen. Dow retreated before earnings report, probably soften by speech from Wen Jiabao. Woes from europe return.
These fundamental reports only add to confrim the bearish movement of the GBP. Though it shot high because of better than expected PMI report yesterday, together with the Euro, GBP has retreated this morning.
GBP is still ranged between 1.574 and 1.59. As such trade within range.
Monday, October 04, 2010
4 Oct 2010
GBP/USD analysis:
Not much of news.
Will the Europe terrorist treat has any impact on the market. Asia market continue to make runs with better China economic data.
The pound now began its squeezed between trading range of 1.59 and 1.74. After it failed to break 1.59 and break below 1.74, these two lines become the natural resistance and support lines.
Euro made a dip this morning. My expectation is for the pound to go low and continued towards the support line. CCI support this decisions.
Not much of news.
Will the Europe terrorist treat has any impact on the market. Asia market continue to make runs with better China economic data.
The pound now began its squeezed between trading range of 1.59 and 1.74. After it failed to break 1.59 and break below 1.74, these two lines become the natural resistance and support lines.
Euro made a dip this morning. My expectation is for the pound to go low and continued towards the support line. CCI support this decisions.
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