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Sterling hits 13-years low on UK rate cut view.
By: Finotec - 17-11-2008
1votesLeaders of the world's biggest developed and emerging nations put banks and investors on notice they will need to hold more capital and reveal more about their holdings,
Long signal Short signal Buy a break of resistance level at 1.4990 Sell a break of support level at 1.4650 GBP/USD Buy a break of resistance level at 1.5075 Sell a break of support level at 1.4560 Buy a bounce at 1.4650 Sell a failure of breaking the resistance 1.4990
Fundamental
Leaders of the world's biggest developed and emerging nations put banks and investors on notice they will need to hold more capital and reveal more about their holdings, signaling the industry may emerge from the current crisis with less potential for profit.
President George W. Bush and his counterparts from the Group of 20 blamed a looming global recession on imprudent investors who “sought higher yields without an adequate appreciation of the risks.” Supervisors who failed to address the dangers building in markets were also at fault, the group said in its statement after meeting Nov. 15 in Washington.
Technical
Sterling still in a downtrend as we can see strong supply in the market, based on technical indicators like RSI, which is in a downtrend and giving us a clear bearish signal, MACD crosses the signal line and is pointing downwards. Bollinger gives us a selling signal by closing the candle below the middle band.
GBP/USD (Daily Chart)
The primary tendency moving between the standard error channel.
Next Analysis: INTRA-DAY USD/JPY OUTLOOK by AceTraderContent Provided by:
Finotec
Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and no
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