1.CBI sales: Tuesday, 11:00. The diffusion index is based on a survey of retailers and wholesalers. The index registered a reading of -22 in January, its lowest level in nearly three years. Market forecast for February calls for a slight improvement to -15, but clearly retail and wholesale sectors are in trouble.
2. GFK consumer confidence: Wednesday, 12:01. The British consumer is still deeply pessimistic, as indicated by the index of consumer confidence. Low confidence means less spending, which affects all sectors of the UK economy. The markets expect little change in the February reading.
3. Net lending to individuals: Wednesday, 9:30. This indicator measure of credit issued to consumers, and provides a snapshot of consumer spending. The indicator fell to 0.4 B in January, well below market forecasts and the third consecutive reading below.However, the market forecast for February requires a place to 0.8B.
4. Manufacturing PMI: Thursday, 9:30. The diffusion index is based on surveys of purchasing managers in manufacturing. In February, the index rose the significant level of 50. This marked the first time the index has risen above 5 since October 2011. The forecast for the March reading is about the same, indicating very slight expansion is expected in the manufacturing sector.
5. Halifax HPI: Friday, publication time is unknown. This indicator measures the inflation in the housing sector, and provides important data on activity in this industry. The previous reading was a 0.6% increase. The forecast for March is a modest increase of 0.1%, indicating that the housing sector remains weak.
6. Construction PMI: Friday, 9:30. This index has been hovering just above level 50, with a January reading of 51.4. Markets are predicting little change, indicating that the sector is showing a very slight expansion.
* All times are GMT.
GBP / USD Technical Analysis
The pound / dollar started the week at 1.5865. The pair fell sharply to 1.5648, but recovered, rising just below the resistance line 1.59 (discussed last week) of 1.5899. It is near the week unchanged at 1.5869.
Technical levels from top to bottom
We begin with the strong resistance level of 1.6472, which was itself tested since August 2011. The next resistance level at 1.6426 is. It is of 1.6265 resistance actions. 1.6132 and then a strong resistance offered in November last year. Then there is a resistance 1.6065, followed by a strong resistance against the characters psychologically important 1.60. The couple was as high as 1.5899, unable to break the resistance line in the round figure of 1.59.
With a few strong downward movement of the GBP / USD, this week remains the most important line of evidence 1.5755. He continues to act as a weak support for the couple. The next support line is a low of 1.5720. 1.5629 and has established itself as a support level since late January. Then there is strong support for 1.5520. Finally, the round figure of 1.54, which was used as solid support in November and December 2011, again helping the poor.
I remain neutral in GBP / USD.
The pound was able to ignore weak economic news from the UK, but how long can that take? The couple moved to a spectacular six percent in 2012, so that a correction of a long way.
Thursday, March 1, 2012
GBP / USD outlook 27/2 – 2/3
GBP / USD remained unchanged during the week, but the pair fully 200 points before recovering to close at 1.5870 level.Tlevelscoming week, six sites. Here is an overview of uncompetitive, and a technical analysis update for the GBP / USD.
UK GDP fell 0.2% in the 4th quarter of 2011, and the business investment fell by 5.4% over the same period. Despite thesedisappointing figures, the book has managed to maintain their own relationship with the U.S. dollar and more, reaching the highest levels 1.59 this week.
Update: traded GBP / USD at 1.5864 and could break through the1.59 level if the rise continues. Dealers do not seem concerned about the weak economy of the United Kingdom as the book still-room strong. CBI sales are surprised by the increase of 2 points.However, the pair was lower than the problems in Greece and Ireland, the declaration of a referendum caused concern in the markets. GBP / USD remains above 1.58 per hour. Supply anchorwomen posted solid numbers, above market expectations. The pound is again in motion, reaching 1.5945.
GBP / USD chart with the lines of support and resistance on the subject. Click to enlarge:
1.CBI sales: Tuesday, 11:00. The diffusion index is based on a survey of retailers and wholesalers. The index registered a reading of -22 in January, its lowest level in nearly three years. Market forecast for February calls for a slight improvement to -15, but clearly retail and wholesale sectors are in trouble.
2. GFK consumer confidence: Wednesday, 12:01. The British consumer is still deeply pessimistic, as indicated by the index of consumer confidence. Low confidence means less spending, which affects all sectors of the UK economy. The markets expect little change in the February reading.
3. Net lending to individuals: Wednesday, 9:30. This indicator measure of credit issued to consumers, and provides a snapshot of consumer spending. The indicator fell to 0.4 B in January, well below market forecasts and the third consecutive reading below.However, the market forecast for February requires a place to 0.8B.
4. Manufacturing PMI: Thursday, 9:30. The diffusion index is based on surveys of purchasing managers in manufacturing. In February, the index rose the significant level of 50. This marked the first time the index has risen above 5 since October 2011. The forecast for the March reading is about the same, indicating very slight expansion is expected in the manufacturing sector.
5. Halifax HPI: Friday, publication time is unknown. This indicator measures the inflation in the housing sector, and provides important data on activity in this industry. The previous reading was a 0.6% increase. The forecast for March is a modest increase of 0.1%, indicating that the housing sector remains weak.
6. Construction PMI: Friday, 9:30. This index has been hovering just above level 50, with a January reading of 51.4. Markets are predicting little change, indicating that the sector is showing a very slight expansion.
* All times are GMT.
GBP / USD Technical Analysis
The pound / dollar started the week at 1.5865. The pair fell sharply to 1.5648, but recovered, rising just below the resistance line 1.59 (discussed last week) of 1.5899. It is near the week unchanged at 1.5869.
Technical levels from top to bottom
We begin with the strong resistance level of 1.6472, which was itself tested since August 2011. The next resistance level at 1.6426 is. It is of 1.6265 resistance actions. 1.6132 and then a strong resistance offered in November last year. Then there is a resistance 1.6065, followed by a strong resistance against the characters psychologically important 1.60. The couple was as high as 1.5899, unable to break the resistance line in the round figure of 1.59.
With a few strong downward movement of the GBP / USD, this week remains the most important line of evidence 1.5755. He continues to act as a weak support for the couple. The next support line is a low of 1.5720. 1.5629 and has established itself as a support level since late January. Then there is strong support for 1.5520. Finally, the round figure of 1.54, which was used as solid support in November and December 2011, again helping the poor.
I remain neutral in GBP / USD.
The pound was able to ignore weak economic news from the UK, but how long can that take? The couple moved to a spectacular six percent in 2012, so that a correction of a long way.
1.CBI sales: Tuesday, 11:00. The diffusion index is based on a survey of retailers and wholesalers. The index registered a reading of -22 in January, its lowest level in nearly three years. Market forecast for February calls for a slight improvement to -15, but clearly retail and wholesale sectors are in trouble.
2. GFK consumer confidence: Wednesday, 12:01. The British consumer is still deeply pessimistic, as indicated by the index of consumer confidence. Low confidence means less spending, which affects all sectors of the UK economy. The markets expect little change in the February reading.
3. Net lending to individuals: Wednesday, 9:30. This indicator measure of credit issued to consumers, and provides a snapshot of consumer spending. The indicator fell to 0.4 B in January, well below market forecasts and the third consecutive reading below.However, the market forecast for February requires a place to 0.8B.
4. Manufacturing PMI: Thursday, 9:30. The diffusion index is based on surveys of purchasing managers in manufacturing. In February, the index rose the significant level of 50. This marked the first time the index has risen above 5 since October 2011. The forecast for the March reading is about the same, indicating very slight expansion is expected in the manufacturing sector.
5. Halifax HPI: Friday, publication time is unknown. This indicator measures the inflation in the housing sector, and provides important data on activity in this industry. The previous reading was a 0.6% increase. The forecast for March is a modest increase of 0.1%, indicating that the housing sector remains weak.
6. Construction PMI: Friday, 9:30. This index has been hovering just above level 50, with a January reading of 51.4. Markets are predicting little change, indicating that the sector is showing a very slight expansion.
* All times are GMT.
GBP / USD Technical Analysis
The pound / dollar started the week at 1.5865. The pair fell sharply to 1.5648, but recovered, rising just below the resistance line 1.59 (discussed last week) of 1.5899. It is near the week unchanged at 1.5869.
Technical levels from top to bottom
We begin with the strong resistance level of 1.6472, which was itself tested since August 2011. The next resistance level at 1.6426 is. It is of 1.6265 resistance actions. 1.6132 and then a strong resistance offered in November last year. Then there is a resistance 1.6065, followed by a strong resistance against the characters psychologically important 1.60. The couple was as high as 1.5899, unable to break the resistance line in the round figure of 1.59.
With a few strong downward movement of the GBP / USD, this week remains the most important line of evidence 1.5755. He continues to act as a weak support for the couple. The next support line is a low of 1.5720. 1.5629 and has established itself as a support level since late January. Then there is strong support for 1.5520. Finally, the round figure of 1.54, which was used as solid support in November and December 2011, again helping the poor.
I remain neutral in GBP / USD.
The pound was able to ignore weak economic news from the UK, but how long can that take? The couple moved to a spectacular six percent in 2012, so that a correction of a long way.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment