Free Forex Signals: Short GBPUSD

Written by forexwatch on 14 January 2009

The US Trade Balance
The U.S. Trade Balance showed that the trade deficit narrowed the most in 12 years. U.S. trade deficit shrank to $40.4 billion in November, the smallest since November 2003, from a revised $56.7 billion in October, the Commerce Department said today in Washington.

The UK Home Sales
In U.K, the GBP declined by 1.7 percent to 1.4574 after reports showed Home Sales dropped the most since 1978 and Retail Sales Report for December is the worst in 14 years.

The US Retail Sales
The US Retail Sales for December will be announced at 13.30 GMT today and the early figures show a drop of 0.2%.

The ECB Interest Rate Cut
The ECB is expected to announce its monetary policy on Thursday at 12:45 GMT. It is anticipated that the ECB will cut its Interest Rate to 2.0% to stimulate the economy.
With the drop in Retail Sales and the highly anticipated Interest Rate cut by the ECB, GBPUSD from a bottom of 1.4468 is expected to retrace before continuing the downtrend.

SHORT GBPUSD
Short Position at: 1.4550
Stop Loss at: 1.4650
Take Profit at: 1.4470 / 1.4400 / 1.4340
OP, SL & TP at YOUR OWN RISKS

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