FXstreet.com

Weekly Forex Signals

13

0

Upward Trend on the short term for the GBP/USD

Tue, Oct 6 2009, 07:01 GMT
by Benny Menashe

Finotec Group Inc.


Fundamental

The pound remained pressured on expectations monetary policy would stay loose for some time with no change foreseen at a Bank of England policy meeting later this week. The purchasing managers' index for the services sector rose to 55.3 in September, beating forecasts for a reading of 54.5 and up from 54.1 the previous month. Separately, the BoE said it would give more banks access to its open market operations to help smaller institutions manage their liquidity better.


Technical

Technicals show us that by looking at the MACD on both the Primary and Secondary charts we can see considerable selling pressure on the Sterling, however this may revert in the next coming days.

GBP/USD (Minor Chart)

We can see an upward trend

GBPUSD

GBP/USD (Secondary Chart)

We can see a downward trend

GBPUSD

GBP/USD (Primary Chart)

We can see a downward trend

GBPUSD

Resistance
$1.6035
$1.6127

Support
$1.5805
$1.5770


Archive

Finotec  | Global financial trading center, 1 Grivas Digheni and Chrysanthou, 3035 Mylona P.O.B 58007, Limassol
http://www.finotec.com/ | support@finotec.com

Legal disclaimer and risk disclosure

FINOTEC Trading’s Market Commentaries are provided for informational purposes only. The information contained within these reports is gathered from reputable news sources and not intended as investment advice. FINOTEC Trading assumes no responsibility or liability from gains or losses incurred by the information herein.

Related reports

Weekly Focus - Squaring positions by Danske Bank A/S
Fri, Nov 20 2009, 16:45 GMT

Intraday Forex Technical Report - U.S. Update: More dollar corrections by FXstreet.com Independent Analyst Team
Fri, Nov 20 2009, 16:15 GMT

Weekly Market Commentary - The trend to lower interest rates continues by Mizuho Corporate Bank
Fri, Nov 20 2009, 15:48 GMT

Fundamental Currencies Comments - Dollar climbs vs. majors by ecPulse.com
Fri, Nov 20 2009, 15:15 GMT

Interest Rate Monitor - Trichet tempers European rate rally by Interactive Brokers LLC
Fri, Nov 20 2009, 15:10 GMT

signals, highlighted, gbpusd

View All

Related content

Wall Street ends Friday in negative; Dollar with gains
FXstreet.com | Fri, Nov 20 2009, 22:14 GMT

Peru's Main Stock Indexes End Mixed; Sol Weakens Slightly
Dow Jones | Fri, Nov 20 2009, 21:36 GMT

Forex: EUR/USD ends week with moderate losses
FXstreet.com | Fri, Nov 20 2009, 21:27 GMT

Canada Afternoon: C$ Ends Lower Amid Subdued Risk Sentiment
Dow Jones | Fri, Nov 20 2009, 21:12 GMT

Forex: GBP/USD fails to hold above 1.6500
FXstreet.com | Fri, Nov 20 2009, 20:35 GMT

signals, highlighted, gbpusd

View All

Interested in forex trading? forex brokerage firms!


FX Solutions LLC
Contact the broker/FDM
Open a demo account
MG Financial Group
Contact the broker/FDM
Open a demo account
MF Global FXA Securities Ltd.
Contact the broker/FDM
Open a demo account
GFT
Contact the broker/FDM
Open a demo account
Forex Club Financial Company
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.