TESTING THE MASOCHISTIC, 200 MOVING AVERAGE OF THE, "MN" TIME FRAME ONCE AGAIN!!

I first would like to make a correction from my last blog!!!, the correct time frame is, "MN" not, "W1", sorry about that!

FIRST STERLING BLOG REPORT IN 15 MONTHS DUE TO INTERNATIONAL RELOCATION… CURRENTLY STERLING IS TESTING THE MASOCHISTIC RESISTANCE OF M. A. 200 OF THE “MN” TIME FRAME AGAIN!!! “M.A.” 200, IS AT: 1.6407 AND STERLING HAS BEEN TESTING THIS RESISTANCE SINCE THE FIRST OF DEC. 2013!!  HITTING HIGH’S OF 1.6660’S IN THE FIRST OF JAN. 2014 AND RETRACING BEARING BELOW THE RESISTANCE TO 1.6251 IN THE FIRST WEEK OF FEB.!!!

STERLING HASN’T FOUND SUPPORT ABOVE THIS SADISTIC MOVING AVERAGE SINCE BEFORE OCT. OF 2008!  THIS IS THE 6 TO 7^TH ATTEMPT AT ACHIEVING SUPPORT, I WOULD ALSO SAY IT’S THE STRONGEST I HAVE SEEN STERLING SINCE THE GREAT BEAR VOLUME OF THE GREENBACK THAT PUT STERLING BELOW THIS, MOVING AVERAGE ALSO MOST SIX YEARS AGO!!!  AS OF THE DATE OF THIS BLOG REPORT STERLING IS BULLISH TESTING 1.6700 AND FOUNDING SUPPORT, FUNDAMENTALLY STERLING IS ALSO BULLISH SHOW FAIR THIS YEAR!!

FURTHERMORE, THE DOW IS TESTING 16,000 AND IS TRENDING BULLISH SINCE MY LAST BLOG, 04/2013 I ALSO MENTION THE AUSSIE AND IT HASN’T PERFORM AS I THOUGHT, AND INTEREST RATES HAVE BEEN CUT, NOTHING NEGATIVE CAN BE SAD ABOUT ITS PERFORMANCE DURING THIS PAST RECESSION, AWESOME EFFORT IN MAINTAINING A PRO-GROWTH DISPLAY OF POWER!  I DON’T GIVE MUCH INFORMATION ABOUT THE EURO, BASICALLY IT TRENDS TECHNICALLY WITH STERLING, I WOULD SAY THE E.C.B. HAS MADE A GREAT EFFORT TO INCREASE THE EUROS, STRENGTH AT THE TIME OF THIS BLOG.  WELL LET’S DO A RECAP OF THE LAST 10 MONTHS OF STERLING (MY LAST BLOG) AND I WILL OFFER A FEW COMMENTS AFTERWARDS!

 THE END OF APRIL,  2013 STERLING HIT A LOW OF 1.5418, IN MAY 2013 HIT A HIGH OF, 1.5605 STAYING BULLISH TO, 1.5751 ON THE 17^TH OF JUNE 2013. AT THIS TIME STERLING HAD A MAJOR RETRACEMENT! DROPPING BELOW THE MAJOR SUPPORT LEVEL OF, 1.5000 TO A LOW OF 1.4857 ON JULY 9^TH, 2013. ((PLEASE REVIEW MY PREVIOUS BLOGS ON THE SUBJECT OF STERLING BELOW, “1.5000”!!!!  A MUST READ!!))  STERLING BREAKS RESISTANCE AT 1.5000 TO REACH, 1.5435 ON JULY 25, 2013 AT THIS POINT STERLING RETRACES TO 1.5102 ON AUG. 2, 2013.  FINALLY FROM THIS LEVEL STERLING BEGINS A POWERFUL BULL!!, HITTING 1.5704, AUG. 21, 2013 A RETRACEMENT TO 1.5462 ON, AUG. 30, 2013 AND FINALLY  A MAJOR STERLING BULL TO 1.6259 ON OCT. 1, 2013!!!  STERLING RETRACES TO 1.5893 ON OCT. 16, 2013 TO A HIGH OF 1.6255 ON OCT. 23, 2013.  IN THE BEGINNING OF NOV. 2013 STERLING WAS AT A LOW OF, 1.5853 BULLISH TRENDING THE MONTH TO REACH, 1.6464 ON DEC. 10, 2013, RETRACING TO 1.6218 ON THE DEC. 17, 2013.  

THIS YEAR, 2014 STERLING OPEN 1.6580’S, HITTING BULLISHLY, 1.6602 JAN. 2, 2014, FOLLOWING THIS, A RETRACEMENT TO, 1.6331 ON JAN. 17^TH, 2014.  ADDITIONAL BULLISH SUPPORT CONTINUES TO INCREASE, STERLING HITS, 1.6667 ON JAN. 24^TH, 2014.  GOING INTO FEB. 2014, STERLING IS AT, 1.6251 ON FEB. 2, 2014 WITH A MAJOR BULL TO CONTINUE FOR THE NEXT TWO WEEK!!!  ON, NON-FARM FRIDAY, FEB. 07, 2014 STERLING HIT A HIGH OF 1.6416 TO CLOSE THE WEEK!!  FINALLY THE CURRENT WEEK OF THIS BLOG!, STERLING OPEN AT, 1.6402 HITTING A LOW OF 1.6391 ON FEB. 11, 2014 TO CONTINUE A STRONG BULL RUNS THE REST OF THE WEEK HITTING 1.6757 (OVER 375 PIPS OF BULLISH TRENDING IN 4 DAYS!!) EARLY IN THE LONDON SESSION FRIDAY MORNING!!!

SO WHAT’S NEXT???  WILL STERLING CONTINUE TO FIND SUPPORT AND FINALLY BUILD ON TOP OF THE MOVING AVERAGE 200 ON THE “MN” TIME FRAME FOR THE FIRST TIME IN OVER SIX YEARS, WILL B.O.E BECOME THE MASTER HAWK OF THE PAST AND INCREASE INTEREST RATE!!, WHAT ABOUT THE BANK RATES!!  STERLING WILL NEED THE TONE OF A STRONG HAWK TO FIND SUPPORT OF THE MONSTER 200 MOVING AVERAGE ON THE “MN” TIME FRAME, THAT’S BEEN PUNISHING STERLING FOR YEARS!!!

WELL I’M SURE, B.O.E. IS AWARE OF THE GREAT DEMAND AT THIS TECHNICAL SUPPORT LEVEL.  SURELY AN INTEREST RATE AND BANK RATE IS TOO FOLLOW!!  NOTHING NEGATIVE CAN BE SAID ABOUT STERLING PERFORMANCE SINCE THE END OF THE SUMMER IN 2013 AND SO FAR THIS YEAR STERLING IS IN EXCELLENT PERFORMANCE SEEKING A TECHNICAL SUPPORT ABOVE THE 200 MOVING AVERAGE ON THE “MN” TIME FRAME, IF THIS HAPPENS MAJOR ECONOMIC GROWTH WORLDWIDE!!

I WILL OFFER TECHNICAL SUPPORT AND RESISTANCE LEVELS FOR THE FOLLOWING WEEK, HOWEVER I WILL NOT CONTINUE MY DAILY BLOG AS BEFORE, MANY OF THE TECHNICAL AND FUNDAMENTAL DATA THAT I PROVIDE CAN BE FOUND ONLINE ON ECONOMIC WEBSITES, WORLDWIDE… TRADE WITH THE TREND!!!  CHECK YOU FUNDAMENTAL RELEASE!!!  BEWARE OF GEO-POLITICAL CHANGES!! & MAJOR WEATHER CONDITIONS!!

THANK YOU FOR YOUR TIME AND HAVE A GREAT DAY!

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TECHNICAL PIVOT, SUPPORT AND RESISTANCE LEVELS FOR STERLING ENDING WEEK, FEB. 21, 2014

THE PIVOT POINT THIS WEEK FOR STERLING IS: 1.6628

R.1/   1.6771                      S.1/   1.6485

R.2/   1.6861                      S.2/   1.6395

R.3/   1.6996                      S.3/   1.6260

AFTER 2 MONTHS OF RETRACING OFF M.A. 200 ON THE W1 STERLING FOUNDS SUPPORT FOR TESTING 1.6000

IT BEEN APPROX. TWO MONTHS SINCE STERLING FAILED AGAIN TO FIND SUPPORT ABOVE THE M.A. 200 ON THE W1. TIME FRAME AGAIN, IN FACT WE HAVEN'T HAD SUPPORT ABOVE THIS M.A. SINCE BUSH WAS PRESIDENT.
SO THE LAST TWO MONTHS YES, STERLING HAS BEEN BEARISH.  BASICALLY I'M WRITING THIS BLOG DUE TO THE BULLISH RETRACEMENT THE LAST WEEK DATING BACK TO, 11/16/2012 (1.5834 LOW) STERLING HAS GAIN, 134 PIPS AND ACTUALLY HAD A 100+ PIP DAY ON FRIDAY, 11/23/2012 WHICH IS RARE, BUT DUE TO POSITIVE NEWS OUT OF THE EURO ZONE.

STERLING CLOSED ABOVE, 1.6000 AT 1.6032 GOING IN NEXT WEEK SEEKING SUPPORT FOR, 1.6000 WHICH IS A MAJOR SUPPORT LEVEL FOR BULLISH VOLUME TO RETURN.  NOTHING HAS CHANGED TECHNICALLY FOR STERLING, IT MUST FOUND SUPPORT ABOVE, 1.6175 ON THE W1. TIME FRAME, FOR YEARS IT JUST BEARS ONCE IT REACHES THE 200 M.A. ON THE W1. TIME FRAME, I WOULD SAY THERE'S A DIFFERENCE ON THIS BEARISH RETRACEMENT! IT HAS STOP AND RETRACE BULLISHLY OFF THE 60 M.A. ON THE W1. TIME FRAME.  NORMALLY THE GREENBACK JUST PUNISHES RIGHT THROUGH THE 60 M.A. AND CONTINUES TO BEAR, THIS TIME STERLING IS RECOVERING FASTER AND TECHNICALLY MUCH BETTER!

THE EURO ZONE FUNDAMENTALS SEEM TO BE IMPROVING THIS MAY HELP, STERLING MOMENTUM  BUT WHAT IS NEEDED IS BASICALLY FOR B.O.E. TO RAISE INTEREST RATES OR AT LEAST RAISE THE BANK RATES! NOTHING HAS BEEN DONE FOR A WHILE, A CHANGE IN POLICY WITH ONE OF THE TWO RATES WILL HELP STERLING GREATLY.

WITH THE EURO ZONE BEING LEAD BY THE "NON-CONSERVATIVES" AND THE UNITED STATES BEING LEAD BY, THE "NON-CONSERVATIVES" IT WILL BE VERY INTERESTING TO SEE WHAT THE MAJOR LIQUIDITY PROVIDERS FOR OUR WORLD ECONOMY DO, HISTORICALLY WITH CURRENT POLITICAL LEADERSHIP THEY WILL NOT COME IN!!  THE ECONOMY WILL OR WE WILL START THE "DOUBLE DIP" SOON..  HONESTY IT ISN'T SHOWING ANY SIGHTS YET, AS OF THIS BLOG THE DOW IS AT 13,000 SHOCKLEY AND STERLING IS ABOVE 1.6000 WITH A BULLISH DAY ON A "FRIDAY!"  SO WILL THE LIQUIDITY PROVIDERS COME IN DI SPITE WHO RUNNING THE WESTERN WORLD POLITICALLY OR WILL THEY RUN TOO ONE OF THE POPULAR EMERGING MARKETS! OR WILL THEY JUST SIT AND WAIT ON THE SIDE-LINES OR WORSE, SHORT THE MARKET AND CRUSH THE MASSES.  EMERGING MARKETS ARE THE BEST INVESTMENT!, WHICH WILL STILL DROP THE DOW, OR JUST MAYBE SOMETHING DIFFERENT AND NEW! MAY HAPPEN MAYBE THE PRIVATE SECTOR AND MAJOR LIQUIDITY PROVIDERS WILL OVER-LOOK WHO'S IN POLITICAL CONTROL, WHO'S RAISING TAXES! AND JUST DO WHAT'S BEST ECONOMICALLY AND RAISE THE ECONOMY!!  I DON'T THINK SO.....

WHAT ABOUT THE FOREX MARKET, WELL I HAVEN'T BEEN ABLE TO DO ANY POSITIVE SUPER ACTIVE TRADING TECHNICALLY SINCE MAY OF THIS YEAR, EVEN THOUGH THE MONTH OF AUGUST WAST BULLISH.  BASICALLY HOLDING ON TWO A POSITION TRADE FOR NOW, THE VOLUME IS BELOW AVERAGE, SLOW, CHANNELING AND THE GEO-POLITICAL EVENTS THIS YEAR ARE POINTING TOWARDS A DOUBLE-DIP EVENT THOUGH NOTHING BY THE NUMBERS SAY THIS, BUT IT'S STILL VERY EARLIER LETS SEE WERE WE ARE THE END OF THE SUMMER OF 2013.  AS FOR STRONG TRADING VOLUME OF A BULLISH NATURE OR TRENDS ESPECIALLY IF THE MARKETS BEGINS TO FALL IN FOREX THE SAVE-HAVEN CURRENCY IS THE GREENBACK, YOU CAN REVIEW PREVIOUS BLOGS  OF MINE THAT COVER THIS SITUATION TECHNICALLY.  IF YOU CHOOSE NOT TO GO THE SAVE-HAVEN ROUTE, KEEP A EYE ON THE STERLING AND THE AUSSIE FOR STRONG COUNTER-TREND BULLISH TRADES & TRENDS DURING THE DOUBLE-DIP.  A SAFE WAY TO ALSO TRADE IS JUST TO FOLLOW THE FUNDAMENTAL RESULTS OF THE PAIRS AND JUMP IN AND OUT OF THE VOLUME BASE ON THE RESULTS OF THE EVENT.

WEEKLY TECHNICALS FOR STERLING FOR THE WEEK ENDING 11/30/2012

BULLISH SUPPORT FOR STERLING FOR THIS WEEK IS, 1.5940 (CLOSED AT 1.6032) THE NEXT LEVEL OF RESISTANCE TO BREAK IS, 1.6004 A BULLISH STERLING CONTINUES AND BREAKS 1.6045 AND A STRONG STERLING BULL REACHES, 1.6106 AND HIGHER THIS WEEK..

IF STERLING RETRACES BEARISH OFF OF 1.5940 THE NEXT LEVEL TO LOOK FOR SUPPORT IS, 1.5876 IF STERLING CONTINUES TO BEAR THE NEXT LEVEL WILL BE 1.5835 AND FINALLY IF STERLING CONTINUES TO FALL IT MAY HIT A LEVEL OF 1.5774 BEFORE BULLISH VOLUME RETURNS THIS WEEK.

DAILY TECHNICALS FOR STERLING FOR MONDAY'S SESSION 11/26/2012

BULLISH SUPPORT FOR STERLING IS AT, 1.5970 (STERLING CLOSED AT 1.6032) THE NEXT LEVEL FOR STERLING TO REACH IS, 1.6017 A BULLISH STERLING CONTINUES THIS SESSION TO 1.6047 AND A STRONG BULL REACHES AND BREAKS 1.6092 FOR TODAYS SESSION, 11/26/2012.

IF STERLING RETRACES BEARISH BELOW 1.5970 THE NEXT LEVEL OF SUPPORT IS, 1.5923 IF THIS LEVEL DOESN'T HOLD THE NEXT LEVEL OF SUPPORT IS, 1.5893 IF STERLING CONTINUES BEARISH THE FINALLY LEVEL OF SUPPORT IS, 1.5848 BEFORE STERLING FINDS BULLISH VOLUME.

REMEMBER FUNDAMENTAL DATA SUPERSEDES TECHNICAL DATA, CHECK YOUR ECONOMIC CALENDAR DAILY FOR EVENT OPPORTUNITIES.

TRADE WITH THE TREND!

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BOE., MINUTES NOT HAWKISH STERLING TECHNICALLY RETRACES

STERLING HIT A HIGH OF 1.6270 BEFORE THE RELEASE OF THE BOE'S STATEMENT. SINCEMTHERE WAS NO HAWKISH DEVELOPMENT, WE SAW A TECHNICAL RETRACEMENT OR PROFIT TAKING.  STERLING TO TESTED A KEY TECHNICAL SUPPORT LEVEL TODAY, HITTING A SESSION LOW OF 1.6183 DURING THE U.S.D. SESSION, WHICH IS THE TECHNICAL SUPPORT OF THE 200 M.A. OF THE W1 TIME FRAME.  STERLING REACH, 1.6235 AFTERWARDS

TECHNICALS FOR STERLING FOR TODAY'S SESSION:


A BULLISH STERLING FINDS SUPPORT AT, 1.6227 THE NEXT RESISTANCE LEVEL TO REACH IS, 1.6260 A POSITIVE TREND WILL DEVELOP TO, 1.6281 AND FINALLY A STRONG BULL REACHES 1.6312 OR HIGHER FOR TODAY'S SESSION.

NON SUPPORT FOR STERLING AT, 1.6227 WE CAN LOOK FOR SUPPORT AT, 1.6194 IF THE TREND CONTINUES BEARISH, THE NEXT LEVEL OF SUPPORT IS, 1.6173 AND FINALLY A SUPPORT LEVEL OF, 1.6142 COULD BE REACH BEFORE BULLISH VOLUME RETURNS.
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FUNDAMENTAL, PLEASE REVIEW YOUR ECONOMIC CALENDER!!  TODAY'S SESSION HAS A GREAT DEAL OF RELEASES, (((ALL TIMES, EST.)))

1:00 A.M. STATUS HIGH, BANK OF JAPAN'S MONTHLY ECONOMIC REPORT.

2:00 A.M. STATUS HIGH, EURO RELEASE, PRODUCER PRICE-GERMANY.

4:30 A.M. STATUS MEDIUM., STERLING, RETAIL SALES.

8:30 A.M. STATUS MEDIUM, USD, INITIAL JOBLESS CLAIMS.

10:00 A.M. STATUS MEDIUM, USD, PHILIA. FED. REPORT.
(FED MEMBERS WILL BE SPEAKING THROUGHOUT TODAY DURING THE USD SESSION AS WELL).

TRADE WITH THE TREND!

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STERLING SHOWING BULLISH TECHNICAL VOLUME

THIS HAS BEEN THE STRONGEST STERLING IS BEEN, POST RECESSION.  THIS YEAR THE FIRST FOUR MONTHS WERE VERY BULLISH, STERLING TOOK A MAJOR RETRACEMENT UNTIL MID JULY.  NOW THE LAST 7 WEEKS STERLING HAS BEEN BULLISH 850 PIPS AND IS TESTING THE 200 M.A. OF THE W1 TIME FRAME WHICH HAS BEEN THE MAJOR TECHNICAL RESISTANCE FOR STERLING THE PAST TWO YEARS.

STERLING NEEDS TO STAY ABOVE, 1.6180 TO REMAIN BULLISH, THE TREND OR BID PRICE AS OF THIS BLOG IS 1.6237, STERLING HIT A HIGH OF 1.6277 ON MONDAY ONLY 27 PIPS BELOW THE HIGH OF THE YEAR, WHICH WAS POSITIVE. BULLISH SUPPORT IS FORMING, IT SEEMS TO BE BUYER IN THE 1.6230'S... THE NEXT TEST FOR STERLING IS IN THE RANGE OF 1.6330, TECHNICALLY ONCE WE FIND SUPPORT HERE, TECHNICALLY ANY MAJOR RETRACEMENT WILL NOT EXIST, FROM A TECHNICAL POINT OF VIEW THAT IS, FUNDAMENTAL AND GEO-POLITICAL EVENTS ARE  FACTORS.

STERLING TECHNICALS FOR TODAY'S SESSION:

SUPPORT FOR BULLISH STERLING IS, 1.6242 THE NEXT LEVEL TOO REACH IS, 1.6260 IF THAT LEVEL OF RESISTANCE IS BROKE, 1.6271 SHOULD BE REACH AND A STRONG STERLING FOR TODAY'S SESSION WILL TOUCH, 1.6288.

IF STERLING DOESN'T FIND SUPPORT AT, 1.6242 THE NEXT LEVEL IS, 1.6224 IF STERLING BEAR'S THE NEXT LEVEL OF SUPPORT IS, 1.6213 AND FINALLY IF THE TREND CONTINUES DOWN THE FINAL SUPPORT BEFORE BULLISH VOLUME RETURNS IS, 1.6196 FOR TODAY'S SESSION.

FUNDAMENTAL STATUS, HIGH!!! MAJOR SESSION MOVER.

4:30 A.M. EST. BANK OF ENGLAND MINUTES......
---------------------------------------------------------------------------

ALSO IN THE U.S.A., STATUS, MED. AT 8:30 A.M.   2 RELEASE.
10:00 A.M., STATUS, MED.  EXISTING HOME SALES AND AT 10:30 A.M. EST. CRUDE OIL INVENTORY, STATUS LOW, BUT CAN MOVE THE MARKET, DEPENDING..

TRADE WITH THE TREND!!
REVIEW YOUR ECONOMIC CALENDAR DAILY!

THANK YOU FOR YOUR TIME AND HAVE A GREAT DAY..

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STERLING IS TECHNICALLY BEARISH, RECOVER WILL BE BASE ON THIS SESSION'S FUNDAMENTAL RELEASES

Today we saw Sterling fall, a major bear trend is developing and technically Sterling can't be recommended, fundamentally Sterling needs a Hawkish statement from B.O.E. in this sessions
Inflation Report.  If Sterling continues to bear after today's fundamental releases, Sterling will not be a technical bull!

From a technical point of view, mid-term Sterling needs to find major bullish support if it falls to
1.5903, if the level doesn't find support the next major level for Sterling is, 1.5784 but at these levels
Sterling can't be recommended bullishly.  Dropping below, 1.5750 means major U.S.D. bull, Safe-Haven trading is in play and possibly the beginning of a Global Double-Dip recession!!!! (review
previous blogs from 11/2011 for details.)

So what happen, other than the Geo-Political data coming out of the E.U. and no Interest Rate increase from B.O.E....  From a technical point of view Sterling hasn't broken the resistance level of a Major 200 moving average on the Weekly time frame (W1) of your trading plate form now for over a
year!!!  That 200 M.A. is currently at, 1.6286 technically Sterling needs to beat the resistance and bull past this Moving Average to base a Med-term and Long-term technical bull.  Falling below 1.6000 really is a major warning sign.... Time will tell.....

Please check your economic calendar for details of today's session:

4:30 a.m. EST. G.B.P., Status-High 1
                                             Med  1

5:30 a.m. EST. G.B.P., Status-High 1, ****Inflation Report****

8:30 a.m. EST. U.S.D., Status-Med 2
9:15 a.m. EST. U.S.D., Status-Med 1
10:30 a.m. EST. U.S.D., Status-Low (Crude Oil Inventories**) possible strong volume.

2:00 p.m. EST. U.S.D., Status-High 1, F.O.M.C. minutes will be release!

Basically this is it!! If the releases for Sterling aren't Hawkish! and the U.S.D fundamentals support a strong Dollar, the technical bull for Sterling for the Mid-term will be over, Safe-Haven trading technically and fundamentally will be in play...

Daily technical's for Sterling:

Support for a bullish Sterling is, 1.6025 (currently 1.5986, bearish)(8:05 p.m. EST.) Sterling must
find support at, 1.6025 once this resistance level is broke bullishly the next level to break will be, 1.6074 if bullish volume continues for Sterling the next resistance level is, 1.6106 and finally a strong bullish Sterling finishes the session reaching, 1.6152 and higher!!

If Sterling continues to bear below, 1.6025 the next level for support will be, 1.5976 if this support level is broken bearishly the next technical level for support is, 1.5944 and finally if the bear trend continues the finally level for support for Sterling will be, 1.5898 before bullish volume will return..

Trade with the Trend!!!

Thank you for your time a have a great day.

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FOOTNOTE: Future blog posting will be suspended until technical level return for a bullish market, please review previous blogs.,(11/2011) for Major support and resistance levels during this type of or current market condition, potential Safe-Haven environment.....Actually this decision will be base on the results of today's fundamental releases!!!!

STERLING BULLS THROUGH THE U.S.D. SESSION TO TECHNICAL BULLISH LEVELS.

Sterling hit a high today of, 1.6122 at 11:00 a.m. EST.  Technical support for was at, 1.6091 going into today's session, Sterling reach that point at 10:15 a.m. EST.

Daily technical's for Sterling:

Technical support for a bullish Sterling is, 1.6089 (currently 1.6087)(9:09 p.m. EST), the next level of resistance to break is, 1.6116 a bullish Sterling next bullish resistance level is, 1.6134 and finally a strong bullish Sterling reaches, 1.6160 or higher in today's session.

If Sterling doesn't find bullish support at, 1.6089 the next level of support is, 1.6062 if the support level doesn't hold Sterling may bear too, 1.6044.  Finally if bearish volume continues the last level of support is, 1.6018 before bullish volume will return.

Please check your Economic Calendar a good number of releases for today's session!!!:

9:30 a.m. EST. Status-1 HIGH: AUSSIE.
2:00 a.m. EST. Status-3 HIGH: EURO.
4:30 a.m. EST. Status-1 MEDIUM: STERLING.
5:00 a.m. EST. Status-3 HIGH: EURO.
5:00 a.m. EST. Status-6 MEDIUM: EURO.
8:30 a.m. EST. Status-3 HIGH: U.S.D.
8:30 a.m. EST. Status-4 MEDIUM: U.S.D.
9:00 a.m. EST. Status-2 MEDIUM: U.S.D.
7:50 p.m. EST. Status-3 MEDIUM: J.P.Y.

Trend with the trend!
Thank you for your time and have a great day.

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FUNDAMENTAL RELEASES AND GEO-POLITICAL EVENTS BEAR STERLING TO CLOSE THE WEEK.

This last day of the trading session say Sterling fall hitting a low of, 1.6060 near the end of this week trading.  The bearish trend Sterling has been experiencing this week is due to Geo-political Events coming out of the, E.U. and a large number of fundamental release after, B.O.E.'s interest rate decision that came out on, Thursday basically it was all bearish after that.

Sterling did a a couple of strong Counter-trend bull moves this week, on the 7Th, 9Th, and 10Th, but for the most part it was a bearish week...

Daily technical s' for Sterling going in Sundays open thru Monday session:

Support for a bullish Sterling is, 1.6091 (closed at 1.6072) the next resistance level for a bullish Sterling to break is, 1.6122 if trend continues bullish the next level to reach will be, 1.6141 and finally a strong bullish Sterling hits a hit of, 1.6170 and higher in the first day of the trading week.

If Sterling doesn't find bullish support at, 1.6091 the next level will be, 1.6060 if this doesn't hold
the next support level is, 1.6041 if bearish volume continues the final support level is, 1.6012 before bullish volume returns for Sterling.

Weekly technical s' for Sterling going into week ending 05/18/2012

Support for bullish Sterling for the week is, 1.6111 (closed at 1.6072) the next resistance level for a bullish Sterling to break is, 1.6162 if bullish volume continues the next resistance level the break this week will be, 1.6195 and a strong bull hits and exceeds, 1.6244 this week!

If Sterling doesn't find support at 1.6111 the next level of support is, 1.6058 if Sterling continues to bear support is at, 1.6025 and finally the last support level is, 1.5976 before Sterling recovers with bullish volume for the week.

It seems that Sterling has been having a technical issues breaking the resistance of a, 200 M.A. that's floating around, 1.6285 on the W1 time frame (Weekly).  For over a year now Sterling has a difficult time with this bullish resistance level... Once this resistance is broken and finds support we'll have a high probability it will be another bull run!!

Check your economic calendar
Trade with the trade

Have a great day!
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