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Gbp/usdTitle:
Technical analysis of the GBP/USD pair on June 16th, 2011
Commentary of the GBP/USD pair :
The pair GBP/USD started yesterday a bearish rallye and the exit of the range 1.6350/1.6450 from the bottom gave us a sell signal.
Then, the breakout of 1.63,1.6250 and 1.62 all gave us a new sell signal.
We maintain to trade only short positions as far as 1.63 is resistance.
The breakout of 1.61 will give a new sell signal.
However, if 1.63 is broken, we will be neutral.
See the previous analysis of the GBP/USD pair of June 15th, 2011
Title:
Windsor Brokers - Short Term Technical Analysis for Majors (13:30 GMT)
EUR/USD
Extends fall from 1.4496, yesterday’s high, losing trendline support at 1.4368 and key near-term levels at 1.4320/00, to approach 1.4250, Fib 61.8% of 1.3968/1.4694. This confirms short-term downtrend and lower top at 1.4496. Negative near-term studies favor further weakness towards 1.4200/1.4180, with oversold conditions suggesting corrective bounce, ahead of fresh push lower. 1.4320/50 zone offers initial resistance
Res: 1.4300, 1.4320, 1.4350, 1.4377
Sup: 1.4263, 1.4256, 1.4245, 1.4200
GBP/USD
Upside rejection at 1.6440 has triggered sharp decline that nearly fully retraced 1.6215/1.6440 upleg, reaching 1.6226 so far. Potential loss of 1.6215 would expose 1.6131/00 next, while 1.6300/20 zone, Fib 38.2% / 20 day MA, is expected to hold corrective bounce, as hourly ...
Title:
Dollar Stronger on Greek Debt Concerns
The dollar is stronger across the board as the Greek debt crisis comes to a head with the failure of European finance ministers to come to an agreement for a second bailout package. Moody's put three French banks on credit watch which compounded the negativity as the majors were all sold versus the USD.
The lack of a solution is beginning to press market participants as the June 20th self-imposed deadline nears. Euro zone leaders left the meeting with the major conflict between Germany and the ECB unresolved. Germany is requesting investor participation in return for additional bailout funds but the ECB is staunchly against any restructuring or haircut on Greek debt that would cause a credit event as defined by the major rating agencies.
Negative euro sentiment was compounded after ...
Title:
Pound Slides on Rising Jobless Claims & Slowing Wage Growth
The Great Britain pound tumbled today as the government reports showed that the number of unemployment claims unexpectedly increased and the wage growth slowed.
The number of people seeking unemployment benefits rose to 19,600 in May from 16,900 in April, according to the report of National Statistics. The unemployment rate stayed at 7.7 percent. The average earnings growth slowed to 1.8 percent in April from 2.4 percent in March.
GBP/USD slid to 1.6272 from 1.6369 today as of 11:36 GMT, while it posted the intraday low of 1.6247 earlier. GBP/JPY went down to 131.30 from 131.72.
Title:
YouTradeFX Daily Market Analysis : 15/06/2011
www.youtradefx.com
GBP/USD :
A United Kingdom pound – United States dollar pair had a very quiet day yesterday with, in the background, rising exchange rates in the financial markets and the leading indexes closing with increases of above 1%. The pound still has a lot of room until it closes the gap and is still at relatively low levels following a deep and long lasting technical correction. In the short term, the pair is expected to move upwards against the background of the positive sentiments generated by the last two days and to meet the resistance level of 1.6480 that can be used as a target for a partial realization.
The medium term analysis points to the resistance level of 1.7050 as an important target on the way up. This level was the highest point ever since the start of the ...
Title:
Pound Weakened by Slowing Inflation
The Great Britain pound weakened today as the reports showed that the core inflation slowed and the retail price index remained unchanged last month.
The consumer price index remained at 4.5 percent in May (year-on-year) as was expected. Yet the core inflation decreased to 3.3 percent from 3.7 percent, while only a small drop to 3.6 percent was expected. The retail price index surprised traders unpleasantly, remaining at 5.2 percent despite analysts’ predictions of growth to 5.3 percent.
There were some positive news to provide support to the pound. Nationwide consumer confidence rose to 55 in May from 44 in April even as it was expected to drop to 41. Still, the economy remains unfavorable to Britain’s currency at present.
GBP/USD fell to 1.6361 from 1.6369 as of 1:21 GMT today after ...
Title:
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Recovery attempt from 1.4320, 13 May low, has ran out of steam on approach to 1.4500 barrier, with subsequent pullback losing near-term bull channel support and 1.4400 handle, to break below 1.4377, yesterday’s higher low and Fib 61.8% of 1.4320/1.4496 upleg, and test 1.4368, main trendline, connecting 1.3968 and 1.4320 lows, loss of which would signal an end of recovery phase from 1.4320 and re-focus 1.4320/00, strong support zone.
Res: 1.4377, 1.4400, 1.4428, 1.4450
Sup: 1.4345, 1.4320, 1.4300, 1.4256
GBP/USD
Renewed attempt towards key near-term barrier at 1.6470 has lost traction at 1.6440, sliding below 1.6375/50, to test 1.6330/20 zone, Fib 50% / 07 June low/20 day MA, ahead of 1.6300/1.6280, Fib 61.8% / 13 June higher low. Loss of the latter would confirm lower high ...
Title:
Technical analysis of the GBP/USD pair on June 15th, 2011
Commentary of the GBP/USD pair :
The pair GPB/USD continues to move between 1.6350 and 1.6450.
We are neutral between these two levels.
Currently, the pair is testing the support at 1.6350.
We advise to wait an exit of this range to take position:
- Long if 1.6450 is broken. The breakout of 1.65 will give a new buy signal
- Short if 1.6350 is broken. The breakout of 1.63 will give a new sell signal.
See the previous analysis of the GBP/USD pair of June 14th, 2011
Title:
Higher Yielding Assets Soar as Data Boosts Short-Term Outlook
Yesterday's bullish retail sales and PPI figures out of the American economy, alongside solid growth figures in British CPI and RPI data, have so far helped to lift the value of riskier assets as investors seek higher growth in their portfolios. The EUR, GBP, and AUD were each appreciating against the US dollar throughout Tuesday's session, with mild downturns coming towards the day's closing. Continuation of this trend is being wagered ahead of today's heavy news day.
Economic News
USD - USD Bearish as Traders Seek Risk
The US dollar was seen in decline in trading yesterday for the second consecutive day as traders began to seek risk following several bullish economic data releases. The EUR/USD was seen moving towards 1.45 yesterday before settling mildly below this mark. The GBP/USD ...
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