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Filtrowane przez tagi:  Weak Data
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Cable looks heavy

Cable continues to trade around 1.25 after Article 50 was triggered last week. Manufacturing PMI and Construction PMI both came in weaker than expected. A solid Services PMI today may not discourage sellers for too long.
1.24 - 1.2425 (50 DMA, 100 DMA) is the immediate support before 1.2375 (last week's low). A move below that would target 1.23 - 1.2325. Area around 1.25 (yesterday's high) is the first stronger resistance.
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Cable reverses sharply

Cable closed above 38.2% retracement of the June 2015 - Feburary 2016 downswing on Monday. After initial push higher on Tuesday the pair reversed sharply and declined nearly 250 pips, posting an outside day reversal. Weak manufacturing and construction PMIs are not helping it.
100 DMA and Q4 2015 - Q1 2016 support/resistance line are the first potential target levels while 1.45 - 1.4565 is expected to act as a resistance.
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Cable busts 1.50

Cable touched below 1.50 on Monday but bounced more than 130 pips from there before it turned back down. Weak Manufacturing and Construction PMI releases didn't help the pair which has been sold on most crosses.
Today, 1.50 was properly busted and the low of the day was put in few pips below 1.49. The bounce ran out of steam just above 1.4950. Broken 1.50 level shall now act as a resistance, should the pair get there anytime soon. Some support is seen at April 21th low near 1.4850.
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Cable sells off

Cable fell a cent and a half yesterday with the daily range of almost two cents. That was a third consecutive day of losses since it peaked near 1.5650. There was no particular fundamental driver apart from hawkish Fed officials and some weaker lower-tier data. GBP/JPY flows might have contributed a large part to it.
The pair just broke below strong support at 1.5330 - 1.5340 (200 DMA, Previous Day Low, Previous Week Low) but stalled into 1.5280 - 1.5300 (00's, Daily Support 1, 76.4% retracement…
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al_dcdemo avatar

1.50, not 1.55.

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