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Technical Analysis Of The Gbp/usdTitle:
Dukascopy Morning Forex Overview : 25/05/2012
Fundamental Analysis
EUR
"The euro zone is being buffeted by major headwinds."
- Howard Archer, chief European economist at IHS Global Insight
European manufacturing and services industries contracted in May. A composite index based on a survey of purchasing managers in manufacturing and services sectors declined to 45.9 from 46.7 in April, said the Markit Economics on Thursday.
USD
"It looks more and more like businesses are hesitating to invest in the face of worsening uncertainties in the and global economy."
- Pierre Ellis, a senior economist at Decision Economics
The number of Americans claiming for unemployment benefits declined slightly by 2,000 to a seasonally adjusted 370,000 in the week ended May 19 from the week before, said the Department of Labor on Thursday.
GBP
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Title:
Technical analysis of the GBP/USD pair on May 25th, 2012
Commentary of the GBP/USD pair :
The pair GBP/USD has continued its bearish movement and is currently testing the support at 1.5650.
All indicaotrs are bearish.
We continue to advise short positions as far as 1.58 is resistance.
The breakout of 1.5650 will give a new sell signal and open the week towards 1.56.
In case of return above 1.58, we will be neutral between this level and 1.550.
The breakout of 1.5850 will give a buy signal.
See the previous analysis of the GBP/USD pair of May 24th, 2012
GBP/USD Analysis
Title:
Dukascopy Morning Forex Overview : 24/05/2012
Fundamental Analysis
EUR
Concern about Greece "is a big weight on the market and makes things uncertain"
- Emmanuel Soupre, a fund manager at Neuflize Private Assets
European stocks tumbled on Wednesday, after rising by the most in a month on Tuesday, on speculation Greece may exit the euro zone.
USD
"It’s very clear now that the housing market has turned a corner"
- Richard DeKaser, deputy chief economist at Parthenon Group LLC
Sales of new U.S. homes rose by more than expected in April, Commerce Department data showed on Wednesday. Purchases increased to an annual rate of 343,000, up by 3.3 per cent from a revised 332,000 in March.
GBP
" employment remains fragile and wage growth weak"
- Ross Walker, chief U.K. economist at Royal Bank of Scotland Group
U.K. retails sales declined by ...
Title:
Technical analysis of the GBP/USD pair on May 24th, 2012
Commentary of the GBP/USD pair :
The pair GBP/USD has continued its bearish movement and the breakout of 1.5750 gave us a new sell signal.
All indicaotrs are bearish.
We continue to advise short positions as far as 1.5850 is resistance.
The breakout of 1.5650 will give a new sell signal and open the week towards 1.56.
In case of return above 1.5850, we will be neutral between this level and 1.5950.
The breakout of 1.5950 will give a buy signal.
See the previous analysis of the GBP/USD pair of May 23th, 2012
GBP/USD Analysis
Title:
Dukascopy Morning Forex Overview : 23/05/2012
Fundamental Analysis
EUR
"The rally is mostly technically driven after we became quite oversold last week."
- Raimund Saxinger, a fund manager at Trust Investment GmbH
European stocks rose by the most in a month on Tuesday. The Stoxx Europe 600 Index gained 1.91 per cent to 244.76. Germany’s DAX Index edged higher 1.65 per cent and France’s CAC 40 Index added 1.88 per cent. The U.K.’s FTSE 100 Index rose 1.86 per cent to 5,403.28
USD
"People are becoming more confident about job prospects and about taking on mortgages."
- Millan Mulraine, a senior U.S. strategist at TD Securities Inc.
U.S. existing home sales rose in April to an annual rate of 4.62 million from 4.47 million in March, said the National Association of Realtors.
GBP
"These figures give the Monetary Policy Committee ...
Title:
Technical analysis of the GBP/USD pair on May 23th, 2012
Commentary of the GBP/USD pair :
The pair GBP/USD has failed to break the resistance at 1.5823 and took up its bearish movement.
Currently, the pair is testing the support at 1.5750.
All indicators are bearish.
We continue to advise short positions as far as 1.5850 is resistance.
The breakout of 1.5750 will give a new sell signal and open the week towards 1.57 and 1.5650.
In case of return above 1.5850, we will be neutral between this level and 1.5950.
The breakout of 1.5950 will give a buy signal.
See the previous analysis of the GBP/USD pair of May 22th, 2012
GBP/USD Analysis
Title:
Dukascopy Morning Forex Overview : 22/05/2012
Fundamental Analysis
EUR
"Inevitably there is going to be an element of bargain hunting as investors look to top up their holdings on the basis of slightly lower prices"
- Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers
European stocks edged higher on Monday on China’s pledge to boost growth.
USD
"Equity prices have gotten oversold"
- Mark Luschini, chief investment strategist for Janney Montgomery Scott LLC
U.S. equity market edged higher on Monday on China stimulus hopes and after German and French officials said they would cooperate to keep Greece in the monetary union.
GBP
"Obviously, as the euro depreciates, the U.K. gets slightly more expensive"
- Miles Shipside, Rightmove commercial director
U.K. national house prices stagnated in March, announced the ...
Title:
Technical analysis of the GBP/USD pair on May 22th, 2012
Commentary of the GBP/USD pair :
The pair GBP/USD continues to test the resistance at 1.5823.
All indicators stay bearish.
We continue to advise short positions as far as 1.59 is resistance.
The breakout of 1.5750 will give a new sell signal and open the week towards 1.57 and 1.5650.
In case of return above 1.59, we will be neutral between this level and 1.60.
The breakout of 1.60 will give a buy signal.
See the previous analysis of the GBP/USD pair of May 21th, 2012
GBP/USD Analysis
Title:
Dukascopy Morning Forex Overview : 21/05/2012
Fundamental Analysis
EUR
"Fears of a Greek exit from the euro zone and the negative consequences from that are prevailing"
- Ben Kwong, KGI Asia
European stocks edged lower after Fitch downgraded Greece’s credit rating to ‘CCC’, implying that the country is vulnerable and highly dependent on favourable economic conditions to fulfill its financial obligations.
USD
"If there were scope to do another twist of some type it would be prudent to consider it, especially in the scenario where things are worse and the Fed feels like it needs to move"
- Nathan Sheets, Citigroup Inc.
Fed policymakers might potentially launch another round of Operation Twist rather than a direct asset purchases in case of increased risks or further weakening of the US economy.
GBP
"We must work together to give ...
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