GBPUSD signals

[reky]

GBPUSD

Resist.
1.9937
1.9872
1.9833
1.9764 1.9767
1.9742
1.9676
Support

[azuarsattar]

Wednesday, May 16th, 2007 (4:30 am New York Time) UK
We have UK unemployment rate coming out, together with some earnings indicators. It's expected that the rate will be at 5.5%, like it has been for the last 5 months. If it comes out at 5.7% or more, it would be the highest unemployment in over 10 years, and GBP/USD may possibly go down by 40 pips or more in the first hour of the report. If the number comes out at 5.3% or lower, it would be the lowest unemployment since April of 2006, and GBP/USD may possibly go up by 40 pips or more in the first hour of the report.

Wednesday, May 16th, 2007 (8:30 am New York Time) USA
Then we have housing starts coming out of the US. As you know, housing has been a painful subject for the US, and in April, they are expecting it to come out at around 1480K versus 1518K the previous month. If the housing starts comes out at 1680K or higher, it would be a huge deviation from consensus, and would be the highest reading since September of 2006, so GBP/USD may possibly go down by 40 pips or more in the first 30 minutes of the report. If the number comes out at 1290K or lower, it would be the lowest reading in a very long time, and would be a siginificant deviation from expectations, so GBP/USD may possibly go up by 40 pips or more. We also have building permits coming out at the same time, which may cause some possible conflicts, and possibly mute the move. So watch out for that.

Wednesday, May 16th, 2007 (9:15 am New York Time) USA
Then we have Industrial Production coming out of the US. This indicator is a dog, and I don't recommend trading it. So just be aware of the volatility.

[Resolve]

This topic is being updated for further discussions...

[Resolve]

This topic is being updated for further discussions...