2013.02.14 : Big challenges ahead
EUR/USD
Overall the pair had a mixed trading session, moving higher to touch the level of 1.3500 and then dropping once the resistance was hit. The US Retail Sales came out as expected, with a value of 0.1% from the previous of 0.5% but the Dollar strength can be attributed to some extent to the better than expected Core retail Sales: actual 0.2%, forecast 0.1% and previous 0.3%.
Technical Outlook
Fundamental Outlook
GBP/USD
The pair plunged today on the back of BoE Governor Mervyn King’s remarks about the economy facing “big challenges”. He also expressed his concern about the fact that growth is likely to be weak and these comments drove the pair below the support located at 1.5630.
Technical Outlook
Fundamental Outlook