In my view, the ECB should not act as aggressively as other central banks should act. The biggest news will be Thursday with regard to European interest rates, and during mid-week U.S. data may have an impact on the market. NYC Marathon shines more light on the discussion. It is estimated that the greenback will remain two-way to start the week. GBP / USD Resistance 3: 1.5480 Resistance 2: 1.5420 Resistance 1: 1.5350 New York: 1.5006 Support 1: 1.4900/10 Support 2: 1.4860 Support 3: 1.4820 Comments The pair fell. Stops were placed on the 1.5100 and 1.5050, and more likely about 1.4980. After beginning in New York, the pair rebounded and was trading in the 1.5000 area. Now that the stops may be placed in the 1.5180 area.
The pair is still trading in both directions and stronger, given the settlement-POUNDS EUROS. It is estimated that new programmed cuts in interest rates in Europe, but given the cuts is estimated that this factor is already digested by the market. NYC Mayor pursues this goal as well. Tuesday: All times EASTERN (-5 GMT) 4:30 a.m. 4:30 a.m. GBP GBP Trade Balance DCLG HPI y / y 5:00 a.m.
GBP CB Leading Index m / m Resistance 3: 1.3850 Resistance 2: 1.3800 Resistance 1: 1.3750/60 New York: 1.3423 Support 1: 1.3320/30 Support 2: 1.3280/90 Support 3: 1.3250 Comments On pair traded in both directions and fell, and formed a double bottom, but then recovered over 1.3400. There were offers of sovereign states on 1.3350. Perhaps the correction low is near completion, so at this point, it would be advisable to purchase (point of purchase) this week. Technical levels around 1.3300 hold firm. Sovereigns were seen intervening in the market. Tuesday: All times EASTERN (-5 GMT) 2:00 a.m. EUR WPI m / m EUR German Gov 2:45 a.m. 4:00 a.m. French Balance Budget EUR ECB President Trichet will speak foreign currency trading (FOREX) involves the existence of losses due to risk inherent in any transaction. It is likely that FOREX trading is not suitable for all investors. You should determine whether trading is suitable in your case and should take into account your circumstances, knowledge, and financial resources.
