Research

gbp/usd Technicals

Wednesday, 19 November 2008 14:57:06 GMT

British Pound Technical Outlook

By David Rodriguez, Quantitative Analyst

gbp/usd Fundamentals

Wednesday, 19 November 2008 01:17:23 GMT

British Pound Weighed Down By Drop in UK CPI, May Be Exacerbated By BOE Meeting Minutes

By Terri Belkas, Currency Strategist

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British Pound (GBP)

Current Time - London: 12:14 AM | EST: 7:14 PM | GMT: 12:14 AM

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SENTIMENT AND POSITIONING

	SSI Positioning GBP/USD Ratio: -1.47 Trading Forecast: Bullish Full Article

	COT Positioning GBP: The 52 week COT index remains at 0. This reading indicates a bearish sentiment extreme and potential for a low to form. Also, at -108,264, composite COT is the lowest ever! The previous low was -92,119 in July 1999 (see vertical line on the chart). Full Article

FUNDAMENTALS — THIS WEEKS ECONOMIC RELEASES

	Most Recent Economic Releases	Forecast	Previous
	GBP Rightmove House Prices (MoM) (NOV)		1.0%
	GBP Rightmove House Prices (YoY) (NOV)		-4.9%
	GBP Consumer Price Index (MoM) (OCT)	0.1%	0.5%
	GBP Consumer Price Index (YoY) (OCT)	4.8%	5.2%
	GBP Core Consumer Price Index (YoY) (OCT)	2.2%	2.2%
	GBP Retail Price Index (OCT)	218.6	218.4
	GBP Retail Price Index (MoM) (OCT)	0.0%	0.6%
	GBP Retail Price Index (YoY) (OCT)	4.5%	5.0%

More GBP Economic Releases

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Technicals - Support and Resistance for GBP

	Support and Resistance Levels						Interest Rate Outlook
	Key Levels		Strength	Comments			Timeframe	Target
	R4	16950	High	50-Day SMA			Benchmark	3.00
	R3	1.6675	Medium	10/30 High
	R2	1.6000	Medium	Psychological Resistance			1 Week	3.213
	R1	1.5749	High	20-Day SMA			1 Month	3.671
	S1	1.4678	Medium	Bollinger Band Support			3 Month	4.176
	S2	1.4552	High	10/210/02 Low			6 Month	4.291
	S3	1.4460	Medium	05/14/02 Low			9 Month	4.324
	S4	1.4088	High	03/13/02 Low			1 Year	4.341

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British Pound Could Break Below 1.53 If BOE Quarterly Inflation Report Cites Deflation Risk