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 number [...]
GBP/USD Breaks Up Towards Big Barrier
The British Pound enjoyed the mild FOMC Statement in the US to break above a minor resistance line and approach a much bigger one. Events ahead will probably stop it. Update.
GBP/USD broke last week’s high of 1.5220 and is now trading above 1.5250. This is the highest level in two and a half weeks, the [...]
GBP/USD Outlook – March 15-19
The Pound enjoyed the dollar’s weakness to rise this week, but still under important resistance levels. The upcoming week consists of important employment figures among other events. Here’s an outlook for British events and an updated technical analysis for GBP/USD.
GBP/USD chart with support and resistance lines marked. Click to enlarge:
Mervyn King didn’t make public appearances [...]
GBP/USD Outlook – March 8-12
Mervyn King sure got a weaker Pound this week – it collapsed across the board. The upcoming week consists of 8 events that will move the Pound. Here’s an outlook for these events and updated technical analysis for GBP/USD in its lower ground.
GBP/USD graph with support and resistance lines on it. Click to enlarge:
The rate [...]
GBP/USD Outlook – March 1-5 2010
The Pound lost another technical level and looks down. The upcoming week is very busy, with eight important events, with the rate decision being the climax. Here’s the weekly outlook for the British events, and an updated technical analysis for GBP/USD.
GBP/USD chart with support and resistance lines marked. Click to enlarge:
BOE governor Mervyn King is [...]
Pound Unimpressed From Better GDP
British GDP was revised to the upside, and even better than expected. This hardly helps the Pound, that struggles under a strong resistance line.
According to the second release of British GDP (Gross Domestic Product), the economy grew by 0.3% in the fourth quarter of 2009. This is an upwards revision from the initial release that [...]
The King Wants and Gets a Weak Pound
Mervyn King continues to dominate the Pound’s agenda, and not in a positive way. His big hints about more QE pound the pound as it makes another attempt to break the support line.
The governor of the Bank of England, Mervyn King, hurt the Pound once again. In his appearance in parliament, the agenda was inflation [...]
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