Home Forex Analysis And Forecasts Forex Fundamental Analysis: The pound fell though the UK GBP grew

Forex Fundamental Analysis: The pound fell though the UK GBP grew


The pound fell though the UK GBP grew

The Germany seasonal number of unemployed fell down to 20,000 in February while the forecast assumes decline by 10 000. Its decline was recorded by 10 000 last month. The Eurozone M3 money supply increased by 4.1% y / y in January. The pair euro/dollar left the range and fell far below the support level of 1.1320-1.1340 and stopped under the level of 1.1200-1.1220.

The support levels are 1.1100-1.1120, and the resistance levels are 1.1220-1.1240.

MACD is in a negative territory.

Trading recommendations

The price is likely to go to the resistance level of 1.1220-1.1240.


The pound fell though the UK GBP grew

The pair GBP/USD fell yesterday. Earlier the pound purchases are again resumed against the dollar and the pound strengthened against the dollar to the new highs – the levels where it was last year December. Before the market appeared the UK GDP results for the fourth quarter without any changes + 0.5% q/q, + 2.7% y/y which is weaker than the previous quarter results when it was recorded + 0.7% q/q, + 3.0% y/y.

The pair GBP/USD growth has been stopped, the pair fell to the low upward channel boundary at 1.5395-1.5415.

The support levels: 1.5330-1.5350 and the resistance levels: 1.5415-1.5435.

The MACD indicator is in a positive territory.

Trading recommendations

The upward bounce potential target is 1.5490-1.5510. If the price falls it will get to 1.5330-1.5350.


The pound fell though the UK GBP grew

The pair dollar/yen continues showing the absence of any directed activity, despite its growth in the Japan stock market – the Nikkei has grown by 1.08%. We received the foreign bonds purchases data that was 166V against revised 476,7V. The Japanese stocks foreign investment indicators amounted 289,0V against 113,9V. The support around 118.15-118.35 successfully coped with its task and held back the bears’ impulse. In its turn, the bulls were unable to break through above the resistance around 119.25-119.45. Yesterday they broke through this level.

The support levels: 119.05-119.25, and the resistance levels: 120.20-120.40.

The MACD indicator is in a neutral territory.

Trading recommendations

While the pair is trading above 117.95-118.15, the chances of the growth resumption remain relatively high. This support loss will significantly lower them. The level of 120.00-120.20 is very important for the bulls.

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