GBP/USD

[ALex]

GBPUSD - 29.12.2015

Technically, GBPUSD next immediate resistance above at 1.4914, 1.4935 levels. Downside support at 1.4882, 1.4683 levels.
Trend overall looking strongly bullish at the moment.

[M22R55]

Thankprofessorial

[GoldTrader]

Pound - 30.12.2015

The pound held steady against the U.S. dollar on Tuesday, as trading volumes remained thin after Christmas and ahead of the New Year.The GBP/USD pair trades 0.12% higher at fresh session highs of 1.4839, having found renewed strength around 1.4815 levels.
The cable manages to recover lost ground somewhat and extends its recovery mode above 1.48 handle on the back of risk-on sentiment persisting in Asia spurred by higher global equities.
Technically, GBPUSD next immediate resistance above at 1.4847, 1.4868 and 1.4890 levels. Down side support at 1.48278, 1.4816 and 1.4787 levels.


Trend overall looking slightly bullish at the moment.

[ALex]

GBPUSD - 31.12.2015

Technically, GBPUSD next immediate resistance above at 1.4834, 1.4849 and 1.4865 levels. Downside support at 1.48179, 1.4800 and 1.4787 levels.
Trend over bought conditions with slightly bullish at the moment.

[ALex]

GBPUSD - 08.01.2016

GBPUSD hits 6 years lows. Technically, GBPUSD next immediate support above at 1.4529 and resistance above at 1.4725 levels.
Trend overall looking bearish at the moment.

[martyn]

Currently GBPUSD is moving down to the level of 1.4560 and the CCI indicator shows the market will create a new trend. It is estimated that the market will move up to the level of 1.4599.

[martyn]

GBPUSD is currently moving down to the level of 1.41591 and the Bollinger Bands indicator show the market still have a strong downward trend, so the market is still expected will move down to the level of 1.41396.

[martyn]

GBPUSD is currently moving up to the level of 1.42019, WMR indicator shows the market has reached a saturation point, it is estimated the market will move down to the level of 1.41858.

[ALex]

GBPUSD Technical Levels - 21.01.2016

Technically, GBPUSD next immediate resistance above at 1.4204, 1.4220 and 1.4245 levels.Downside support at 1.4142 and 1.4123 levels.
Trend overall looking slightly bearish at the moment.

[HFblogNews]

Date : 21st January 2016.


CURRENCY MOVERS OF 21st January 2016.


MACRO EVENTS AND NEWS





FX News Today


The risk roller-coaster resumed in Asia where shares snapped back after Wall Street cut savage Wednesday losses into the close, with Japan’s Nikkei up 1.5% and Hong Kong Hang Seng +1.3%. China’s Shanghai Comp opened over 1.4% lower before rebounding 0.6% into the green after the PBoC injected a heavy dose of 110 bln yuan via 7-day reverse repos and 290 bln via 28-day reverse repos in the largest open market operation in 3-years. Commodities bounced back with crude oil back over $28 bbl, while copper and other industrial metals strengthened. The yen gave up some of its new-found strength as the dollar rose above 117.00 to highs of 117.47, while gold retreated below $1,100.


The 0.111% December US CPI drop with a lean 0.127% core price increase undershot estimates despite the expected 2.4% energy price slip and 0.2% food price decline thanks to a 0.2% apparel price drop that marked a fourth consecutive decline, a 0.1% new vehicle price dip, and a lean 0.1% medical care service price rise.


US housing starts declined 2.5% to 1.149 mln in December following the 10.1% jump in November to 1.179 mln (revised from 1.173 mln), while October’ pace was boosted to 1.071 mln from 1.062 mln. On an annual basis starts are up 6.4% y/y versus 17.1% y/y previously. Single family starts declined 3.3%. Multifamily starts slid 1.0%. Building permits fell 3.9% to 1.232 mln from a revised 1.282 mln (was 1.289 mln). Housing completions bounced 5.6% after two months of declines. The headline starts figure is disappointing, which won’t help investors’ shaky mindset.


Bank of Canada Holds Rates Steady and maintains constructive Outlook: The Bank of Canada held rates steady at 0.50%, maintaining their constructive view on domestic growth as the ongoing adjustment to lower oil and commodity prices is facilitated by already implemented rate cuts and the decent in the loonie. The outlook for global and domestic growth was cautiously upbeat. Our base case remains for no change in rates through year end, although a continuation of rock-bottom oil prices will keep the conversation skewed toward the possibility of another reduction as soon as March.


Main Macro Events Today


ECB: Draghi likely to take wait and see stance for now,in line with other central banks. Even the doves at the ECB seem to think it is too early to react to the rout in global markets and that one needs to wait if current trends continue or if things settle down again. But even if the ECB is likely to stay on hold for now, Draghi will be very eager to keep the door wide open to additional measures later on and the tone of the press conference will almost certainly be more dovish than in December. The sharp drop in oil prices in particular will be a focus, but also the fact that Eurozone spreads are widening sharply again in line with the pickup in risk aversion, which highlights that the risk of a renewed flaring up of the Eurozone debt crisis has not been banned yet. March will be the next date to focus on as that will bring the updated set of staff projections.


US Philadelphia Fed Index: January Philly Fed is expected to improve to -7.0 (median -5.5) from -10.2 in December and -5.7 in November. This compares to the already releasedEmpire State index which plunged to -19.4 in January from -6.2 in December. Overall, we expect producer sentiment to trend sideways in January with and ISM-adjusted average of all major measures holding at 50 where it has remained since September.


US Initial Jobless Claims: Claims data for the week of January 16th are out today and are expected to show a decline to a 269k (median 272k) headline from 284k in the week prior. There is some downside risk to the release as post-holiday layoffs occur. January claims look poised to average 271k for the month, down from 277k in December.


GBPUSD STILL TRENDING LOWER





GBPUSD, 240 min


Sterling, which has been under across-the-board pressure, was given a toehold by better than expected UK labour data yesterday. GBPUSD lifted to a 1.4219 high today, which put in a little space from the five-year low that was clocked just ahead of the data release. The unemployment unexpectedly dipped to 5.1% y/y in November, down from 5.2% at the previous reading and the lowest since August 2005. This takes the jobless rate farther below the BoE’s non-accelerating inflation rate of unemployment (NAIRU) at 5.5%, though the average household income in the three months to November ebbed to 2.0% y/y from 2.4% y/y in the previous month. The data follows dovish guidance from BoE’s Carney, who yesterday said that now wasn’t the right time to tighten policy, but should help the pound find a footing after a period of pronounced underperformance.


On technical side the pair still looks weak. GBPUSD has dropped some 150 pips since my Tweet on the pair and has passed beyond my target. Important weekly support levels are not far away with the first one being at 1.4100 but this shouldn’t stop us from looking to sell the rallies as long as the market stays in a down trend. The 1.4232 – 1.4252 area has technical significance as it has a small Fibonacci cluster, a resistance level and 30 period SMA coinciding while the upper end of the bear channel isn’t that far either. If market rallies further the next potential level for short trades is between 1.4280 and 1.4300. We look for a rally to either of these levels and then sell signals to trigger short trades. Targets are: 1.4125 (T1) and 1.3850 (T2).


Please note that times displayed based on local time zone and are from time of writing this report.


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