Wednesday 20th August, 2014
Intraday Support & Resistance Levels
Technical Indicator Signals
Currency Pair Spotlight
GBPUSD: The Sterling plummeted to the 1.66 integer level as the inflation level was surprisingly lower than expected. The July inflation rate implied that the first interest rate rising by BOE might be further delayed. The Sterling touched lows of the last four months yesterday. Technically, Alligator is in short order, AO is in deep negative area, and RSI fell back below 30. It is a clear bearish trend but the risk of bounce is increasing. Traders seem to be waiting for the BOE Meeting Minutes for their next moves today. Some expect that the MPC voting may show at least one member to be more hawkish this time.
For a full market wrap up, see Anthony’s Daily Forex Market Report.
Today’s Key Economic Calendar Events
For the full week’s outlook of events, please see our Economic Calendar
Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by MXT Global Pty Ltd, does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. The research contained in this report should not be construed as a solicitation to trade. All opinions, news, research, analyses, prices or other information is provided as general market commentary and marketing communication – not as investment advice. Consequently any person acting on it does so entirely at their own risk. The experts writers express their personal opinions and will not assume any responsibility whatsoever for the actions of the reader. We always aim for maximum accuracy and timeliness and MXT Global shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on the service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.