But there’s one currency and one event to which this phenomenon will not likely apply. In the interview below, David Rodriguez analyzes current fundamental topics in forex trading.

Guest post by FxPro

There was a muted feeling on Friday in the wake of the co-ordinated intervention to push the yen lower. Indeed, once the intial announcement and BOJ moves were out of the way, the reported intervention from other central banks had only a marginal impact on the currency. The great coordinated interventions of the 1980s were based on concerted efforts to shift the value of the dollar over the course of months. The last coordinated intervention undertaken back in 2000 to put a floor under the euro, was a muted show of force with the ECB left to pick up the pieces (unilaterally intervening afterwards). What’s really going to count is whether we see follow-through in the coming days and possibly weeks from the G7 should the yen continue to strengthen. If there was any sense Friday, it was that Japan’s G7 partners will intervene to stop yen appreciation but aren’t looking to come in significantly to push the yen lower to support the Japanese recovery.

The upcoming week is packed with events, with PMI figures in the limelight. Here’s an outlook for the British events, and an updated technical analysis for GBP/USD.

GBP/USD daily chart with support and resistance lines marked. Click to enlarge:

British GDP already posted a big surprise in the first release – 1.1% instead of 0.6% that was predicted. It then boosted the Pound and sent the bulls raging. Also now, the upwards revision surprised economists that merely expected a confirmation of the first release. But this time, the reaction was very mild:

Employment data and King’s report about inflation are the limelight of this week’s events. Here’s an outlook for the events that will rock the Pound, and an updated technical analysis for GBP/USD.

GBP/USD chart with support and resistance lines marked. Click to enlarge:

A more quiet week in terms of indicators expects the Pound, but Mervyn King’s public appearance could rock the currency. Here’s an outlook for the 4 events that will move the currency, and an updated technical analysis for GBP/USD.

GBP/USD chart with support and resistance lines on it. Click to enlarge:

Early expectations stood on a growth rate of 0.6%, double the growth rate of Q1. The actual result, 1.1%, is almost double the early forecasts and almost 4 times the growth rate in Q1. Let’s see the lines:

The initial release of GDP, meeting minutes and retail sales are part of the events that will rock the Pound in a busy week. Here’s an outlook for the British events and an updated technical analysis for GBP/USD.

GBP/USD daily chart with support and resistance lines marked. Click to enlarge:

A busy week expects cable traders: inflation, employment and Final GDP are part of the events that will shake the Pound this week. Here’s an outlook for the British events and an updated technical analysis for GBP/USD.

GBP/USD daily chart with support and resistance lines. Click to enlarge: