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 [...]
Forex Daily Outlook – March 17th 2010
Another busy day expects forex traders: a rate decision in Japan, employment figures in Britain and Ben Bernanke for dessert are among the events today. Let’s see what’s on the menu.
The most popular pair, EUR/USD, recently enjoyed some gains, but didn’t breach significant technical levels. I see it as a rise before the fall. What [...]
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 [...]
British Employment – A Bitter Disappointment for the Pound
The turnaround in the British job market is in doubt, similar to the economy’s growth. The number of unemployed Brits leaped, hurting the Pound’s cautious recovery. Let’s see the numbers:
British Claimant Count Change, which is an early and important indicator of employment, showed a big rise in the number of unemployed people – 23,400. This [...]
Forex Daily Outlook – February 17th 2010
A busy day expects forex traders, especially those trading cable. Major figures will be released in Britain and the US. Will the Pound chose a direction? Let’s see what’s awaiting us:
Fear is fading away from the markets, and high yielding “risky” currencies are on the rise. The Australian and kiwi dollars are making gains, erasing [...]
GBP/USD – Trend lines on a Collision Course
The Pound is trading in a narrow range, and it’s getting narrower. The trend lines are about to collide – meaning that an explosion is underway. There are a few upcoming events that will determine the direction of explosion.
GBP/USD is bound by two trend lines that aren’t parallel. Using the hourly chart, I’ve drawn a [...]
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