GBP/USD Bounces Off Support Line on Meeting Minutes
The meeting minutes from the last meeting of the BoE showed that there’s still one member voting for a rate hike. This helped GBP/USD bounce off the support line, after it got very close to it. Update on the Pound. Andrew Sentance continues to vote for a rate hike. He’s still the only member out [...]
The Pound rises by orders from the King
Mervyn King finally changed his tone about inflation, and sent the British Pound above a critical resistance line. Update on the rising sterling.
Not the Pound’s Darling (3)
Every major appearance by Alistair Darling is a blow for the Pound. This time isn’t different. At the annual budget release, Darling released a few disappointing statements sending GBP/USD towards an important support level. Less than two months before the general elections, Britain’s budget was presented in parliament. Alistair Darling, Britain’s Chancellor of the Exchequer, [...]
Pound Jumps on Jobs – Breaks Major Resistance
The number of unemployed Brits fell dramatically – this unexpected improvement sent the Pound higher, sent the Pound above a major resistance line. Will this hold? A big test for GBP/USD – it could mark a long term turnaround. Claimant Count Change is the earliest and most important employment indicator in Britain. It reflects the [...]
Forex Daily Outlook – March 4th 2010
Tension rises in the forex market as the calendar is very busy today. The highlights are rate decisions in Europe and Britain, plus a busy American calendar. Let’s see what’s awaiting us today. Tension also comes from a possible resolution to the Greek crisis (although fragile), and the hints towards the big event on Friday: [...]
Forex Weekly Outlook – February 8-12
After one of the wildest weeks that we’ve seen in quite a while, the upcoming week seems more quiet, at least at the beginning. The echoes of the Non-Farm Payrolls will be heard during this time. Later on, some major market moving events are due. Here’s the outlook for the second week of February. Finance [...]
Forex Weekly Outlook – February 1-5 2010
After the surprising American GDP, the first week of February is loaded with major events: rate decisions from Britain, Europe and Australia, job figures from Canada, New Zealand and the US – the almighty Non-Farm Payrolls. Here’s an outlook for the major events of the week. I’m trying a new format of the weekly outlook [...]
Forex Daily Outlook – January 20th 2010
Another busy day is awaiting us: American Building Permits and British employment numbers are the highlights. Let’s see what’s up for today. Note the journey down of EUR/GBP, which moves by strong British figures and weak European ones. Arabic version of this post
EUR/GBP Continues the Free Fall
Backed by significant economic figures, EUR/GBP continues the free fall, quickly approaching the next line of support. Here’s an update on this cross. EUR/GBP continues to be a rather predictable currency pair. The support and resistance lines are more clear here than in many other pairs.
Forex Daily Outlook – January 19th 2010
After a holiday in the US, the market return to full gear with a busy day. We have American TIC Long-Term Purchases, a rate decision in Canada, and major events in Britain and Europe. Let’s see what’s up for this long day. Prices in Britain have been picking up, and this could strengthen the Pound [...]
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