Forex Forum to Share, Discuss, Communicate and Trade Forex

BFSforex: Pound in early trading within a narrow range

Dive deeper into the fundamentals of the market. If you come across any major Forex related news item or wish to share your opinions and ideas related to the local or global economy, this forum is the place for you. Share the news and views about Fundamental Analysis and economic events here.

BFSforex: Pound in early trading within a narrow range

Postby bfsforex » Wed Nov 27, 2013 6:49 am

Wednesday ( Nov. 27 ) Asian city in early trading , the British pound against the U.S. dollar remained at 1.62 above the consolidation, although sterling had to fall on Monday ( November 25 ) , but did not continue to decline this wave days on Tuesday , which also means the actual trend trend has not completely reversed . Earlier, the British pound against the U.S. dollar in the past month high of 1.6260 between twice the range are tentative without success , but for now , the pound is entirely possible to be ready to rally again .
17:30 GMT Wednesday , Britain will announce third-quarter GDP revised , the pound against the U.S. dollar on Tuesday, "just " once again rebounded to the top of the recent range , in this case , or breaking down again on technology trends are reasonable sex , so do not rule out the data released today , the market volatility may affect technological breakthrough may lead to amplification of data .
Brown Brothers Harriman industry organizations (BBH) pointed out that , after the Bank of England Governor Carney (MarkCarney) still emphasize the economic field there overcapacity situation and reiterated the need rather than just the unemployment rate dropped to 7% of the full rate hike conditions , which may thereafter still cause some negative impact on investor sentiment and limit the pound against the dollar will rise further amplitude.
In addition , a series of economic data tonight, foreign exchange and precious metals markets will be released even more important. After two days due to the U.S. Thanksgiving holiday coincides with a series of data to be released in advance to tonight . U.S. investors can focus attention on October durable goods orders and the United States on November 23 , when claims for unemployment benefits in performance.
Technically, although the British pound against the U.S. dollar within a narrow range of basic maintenance on Tuesday intraday consolidation pattern at 1.6200 and closed integer Difficult , but its overall upward momentum in the exchange rate but did not change fundamentally , in time , the British pound against the U.S. dollar will continue upward the challenge 1.6260 previous high target level.
Operation , days suggested GBP / USD can buy on dips in the 1.6240-1.6110 range, effective Powei 40 point stop loss, target range limit.
Posts: 13
Joined: Fri Nov 08, 2013 8:31 am

Return to Dive Deeper - Forex News and Fundamental Analysis


Who is online on Forum

Registered users: Amelia Elizabeth, Baidu [Spider], Bing [Bot], FX-Mike, FXTechstrategy, Google [Bot], John Harry, Kristian Lennert, Yahoo [Bot]