forexsq.com - Although the Bank of England Minutes is expected to show board members David Miles and Adam Posen voting for another GBP 25B in quantitative easing, the policy statement could spark a bullish reaction in the British Pound should the central bank continue to soften its dovish tone for monetary policy. As BoE officials anticipate to see a more robust recovery later this year, the Mone
The pair managed to hold above the 100-Day SMA, and in a short-term could test the 1.5770 resistance. A clear break above this level would confirm the medium-term uptrend towards the 200-Day SMA by 1.5960 or the 1.6150 resistance. However, a break back below the 100-Day SMA could trigger a setback towards the 50-Day SMA by 1.5545, with a break below to extend losses towards the 1.5230 low.
The pair is trying to hold above the 100-Day SMA. Should it succeed, the uptrend will likely continue towards the 200-Day SMA by 1.5960 or the 1.6150 resistance. However, a break back below the 100-Day SMA could trigger a setback towards the 50-Day SMA by 1.5545, with a break below to extend losses towards the 1.5230 low.
The pair reached the 100-Day SMA by 1.5670. A clear break and consolidation above this level would confirm a shift in a medium-term structure and accelerate gains towards the 200-Day SMA by 1.5970 or the 1.6150 resistance. Otherwise we see the risks of a decline back towards the 50-Day SMA by 1.5545, with a break below to extend losses towards the 1.5230 low
The pair managed to hold above the 50-Day SMA and in a short-term could reach the 100-Day SMA by 1.5670. Breaking and consolidating above the 100-Day SMA would confirm a shift in a medium-term structure and accelerate gains towards the 200-Day SMA by 1.5975 or the 1.6150 resistance. However, while the pair trades below the 100-Day SMA, we could see a bearish reversal and setbacks below 1.5300 to
The pair is trying to hold above the 50-Day SMA. Should it succeed, the uptrend will likely continue towards the 100-Day SMA by 1.5670, with a break and consolidation above to confirm a shift in a medium-term structure and accelerate gains towards the 200-Day SMA by 1.5975 or the 1.6150 resistance. However, while the pair trades below the 100-Day SMA, we could see a bearish reversal and setbacks
The pair reached the 50-Day SMA by 1.5550. Breaking above this level would allow reaching the 100-Day SMA by 1.5675, with a break and consolidation above to confirm a shift in a medium-term structure and accelerate gains towards the 200-Day SMA by 1.5980 or the 1.6150 resistance. However, while the pair trades below the 100-Day SMA, we could see a bearish reversal and setbacks below 1.5300 toward
The pair is still trading above the 76.50 support. Should it break below this level, it will confirm declines ahead of the 75.50 low. Otherwise, we could see a rebound towards the 100-Day SMA by 77.15 or the 50-Day SMA by 77.35, with a break and consolidation above to extend gains towards the 78.30 resistance and the 200-Day SMA by 78.50.
The pair is consolidating above 1.5300 and in a short-term could continue gains towards the 1.5500 resistance. Breaking above 1.5500 would extend gains towards the 50-Day SMA by 1.5580 or the 100-Day SMA by 1.5590. However, a break and consolidation back below 1.5300 would confirm declines towards 1.5000.
Yesterday's setback, following Tuesday’s rise, was a limited one but with Asia seeing further selling intraday signals for sentiment are negative. Therefore this morning’s call is Cautiously Bearish while below 1.5647.
ForexSQ.com - Trading conditions remained especially thin on Tuesday, as English speaking countries, mainly Canada and the United Kingdom, celebrated national holidays. Typically, the weeks leading up to and after Christmas are slow, as many trading desks around the world are closed. Higher yielding currencies had underperformed headed into the North American trading session, while the Euro was s
Forex: The Pound remains crawling higher above psychological resistance 1.6000, favoured by overall Dollar weakness, as the pair's retreat from 1.6020 was supported at 1.5985 to bounce up again hitting a fresh 6week high at 1.6040 ahead of Wall Street opening.
On the upside, above 1.6020/40 (day highs), the pair might find resistance at 1.6115 (Aug 10 high) and 1.6200 (Sept 6 high). On the dow
Forex Technical Analysis - The pair is now seen reversing part of its two-day weakness, suggesting a return above the 1.5850/63 levels, its Sept 15’2011/Oct 14’2011 highs is building up. If this zone is taken out, GBP will resume its upside strength and target its Sept 08’2011 high at 1.6079 level and subsequently the 1.6204 level, its Sept 06’2011 high. On the downside, the pair will have to bre
Forex Technical Analysis - Expanded Flat: The 4H GBP/USD chart shows the market respecting the 200-period simple moving average and the 38.2% retracement (of 1.6618-1.5271 swing) as resistance. Although the bearish momentum was lost with the RSI rising above 60, no bullish momentum was established in this time-frame as the RSI failed to tag 70. The ability of the market to return below 1.57/1.569
Intraday bias in GBP/USD remains neutral for the moment and some more consolidations would be seen above 1.5327 temporary low. Nevertheless recovery is expected to be limited below 1.5868 resistance and bring fall resumption. Break of 1.5327 will target 161.8% projection of 1.6746 to 1.5780 from 1.6618 at 1.5055 next.
