1,9926. GBP USD broke 2,0000 support. GBP USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. Oscillators are neutral. The downtrend should continue on 1,9800 (120 pips) support.
Resistances
1,9975 - 2,0065
Supports
1,9880 - 1,9800
more information on GBP/USD - British Pound Dollar Click Here
Mar 31, 2008
At Time : (time are in GMT+7 or Indonesia Jakarta Time (WIB))
20:00 GBP/USD down (Sell)
ALWAYS put a Stop Loss (SL) MAX 40 pips, and Target Profit (TP) starting from 10 to 70 pips, you can use a trailing stop too.
USE AT YOUR OWN RISK !
Hometrack: UK House Price Growth Slows To 2-Year Low In March
LONDON (Dow Jones)–U.K. house prices fell for the sixth consecutive month in March, with the annual rate of growth slowing to its weakest level in two years, and are likely to remain under pressure in the months ahead, Hometrack said Monday.
The housing research and valuation company said house prices fell 0.2% in March and were 0.4% higher on the year, the weakest 12-month change since March 2006. In February, prices also fell 0.2% on the month and were 1.4% stronger on the year.
Hometrack said there was a 1.2% increase in the number of buyers registering with housing agents in March. New buyer registrations rose 7.9% in February, the first rise in the measure since June 2007.
There was also an 8% increase in sales agreed in March, after a 20% rise in February, and the average time to sell a property was stable at 8.5 weeks, it said.
But, Hometrack Director of Research Richard Donnell said some bounce in market activity was inevitable after the recent period of weakness, and growth in demand over the last two months was only a third of the level reported in previous years.
"Indeed, the likelihood of any sustained increase in demand over the spring period is very limited," he said in a statement.
"Continued uncertainty in the financial markets, affordability pressures and weak buyer confidence are all likely to suppress levels of market activity in the months ahead with pricing levels remaining under pressure," Donnell said.
Hometrack continued to forecast a 17% drop in transaction volumes this year, with buying being driven by those who have to move for job or financial reasons and by those who have small mortgages and view the current market slowdown as an opportunity to purchase.
The U.K. housing market began to slow in the latter half of last year after the BOE raised its main interest rate 125 basis points between August 2006 and July 2007 in an effort to slow inflation, and after the global credit crisis began to affect the mortgage market.
The BOE has since lowered rates 50 basis points to 5.25% as it tries to balance the impact on inflation from an expected economic slowdown and higher fuel and commodity prices. Economists expect the BOE to deliver at least another two 25-basis-point cuts this year.
The following table compares house price surveys by major U.K. housing institutions.
March February On Mo On Yr On Mo On Yr Nationwide -0.6% +1.1% -0.5% +2.7% Halifax N/A N/A -0.3 +4.2% Rightmove +0.8% +5.0% +3.2% +5.8% Hometrack -0.2 +0.4 -0.2% +1.4%-By Nicholas Winning, Dow Jones Newswires; +44 20 7842 9254; nick.winning@dowjones.com
USDJPY formed a cycle bottom at 95.77 level on daily chart. Further rebound to 102.50 area to reach the next cycle top on daily chart is still possible in the next several days. Key support is at 95.77, only break of this level will signal the resumption of the long term down trend.
For long term analysis, USDJPY broke below the long term support at 101.65 (Jan 2005 low). Further fall to 90.00 area to reach the next cycle bottom on weekly chart is still in favor.
Monday March 31, 2008
EUR-USD
It may attempt a test higher to 1.5817 after which weakness may set it to a drift down to below 1.5744 limit.
GBP-USD
Market should pop up towards 2.0062 or 2.0180 this bullish scenario would be damaged if 1.9861 - 1.9860 zone is broken, a severe break down could then occur.
USD-JPY
There are initial signs of a good corrective recovery towards 99.82 or even 100.05. Supports at 99.17 and 98.76 zone.
USD-CHF
It is a triangle configuration . Market should break either side.Acceleration should occur above 0.9997 or under 0.9914 limits.
