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gbp/usd Technicals

Friday, 21 November 2008 14:38:49 GMT

British Pound Technical Outlook

By David Rodriguez, Quantitative Analyst

gbp/usd Fundamentals

Friday, 21 November 2008 21:36:42 GMT

British Pound: UK Data to Remain Weak, Forecast Depends on Risk Trends

By Terri Belkas, Currency Strategist
Central Bank Interest
Central Bank Calendar
EURJPYGBPAUDCADNZDCHF  

British Pound (GBP)

 ico-clock Current Time - London: 12:49 PM | EST: 7:49 AM | GMT: 12:49 PM


SENTIMENT AND POSITIONING
SSI Positioning

GBP/USD Ratio: -1.56
Trading Forecast: Bullish


Full Article
COT Positioning

GBP: The 52 week COT index remains at 0.  This reading indicates a bearish sentiment extreme and potential for a low to form.  Also, at -108,264, composite COT is the lowest ever!  The previous low was -92,119 in July 1999 (see vertical line on the chart). 


Full Article
FUNDAMENTALS — THIS WEEKS ECONOMIC RELEASES
Most Recent Economic Releases Forecast Previous
GBP Rightmove House Prices (MoM) (NOV) 1.0%
GBP Rightmove House Prices (YoY) (NOV) -4.9%
GBP Consumer Price Index (MoM) (OCT) 0.1% 0.5%
GBP Consumer Price Index (YoY) (OCT) 4.8% 5.2%
GBP Core Consumer Price Index (YoY) (OCT) 2.2% 2.2%
GBP Retail Price Index (OCT) 218.6 218.4
GBP Retail Price Index (MoM) (OCT) 0.0% 0.6%
GBP Retail Price Index (YoY) (OCT) 4.5% 5.0%


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Technicals - Support and Resistance for GBP
Support and Resistance Levels Interest Rate Outlook
Key Levels Strength Comments Timeframe Target
R4 16950 High 50-Day SMA Benchmark 3.00
R3 1.6675 Medium 10/30 High
R2 1.6000 Medium Psychological Resistance 1 Week 3.213
R1 1.5749 High 20-Day SMA 1 Month 3.671
S1 1.4678 Medium Bollinger Band Support 3 Month 4.176
S2 1.4552 High 10/210/02 Low 6 Month 4.291
S3 1.4460 Medium 05/14/02 Low 9 Month 4.324
S4 1.4088 High 03/13/02 Low 1 Year 4.341
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British Pound Could Break Below 1.53 If BOE Quarterly Inflation Report Cites Deflation Risk