GBP trade balance negative:

The actual report number is -7.3B which is lower than the forecast number -6.6B. Downtrend movement for the GBP against the USD looks possible on the one hour chart.

British trade balance will be released today:

The difference in value between imported and exported goods during the reported month will be released today at 9:30 a.m. GMT. The forecast is -6.6B. We need to see higher number than the forecast in order to expect some positive movements in favor of the GBP on the forex market. 

* medium impact on market

GBP/USD technical analysis today 09/02/2010:

Current price of the pair 1.5630. We may see sideways movements during the European session. GBP/USD will probably continue its downtrend movement towards 1.5500-1.5450 zone.

Hourly support and resistance levels:

S:   1.5577    1.5590    1.5615
R:   1.5653    1.5666    1.5691

Current trend: Neutral

EUR/USD technical analysis today 09/02/2010:

The currency pair has bounced from the falling price around 1.3500 and now it is trading around 1.3650-1.3700. We may see the rise to continue up to 1.3750-1.3780 later on today. On the other hand we may see another drop towards 1.3500 zone is still possible after consolidation.

Hourly based Support and Resistance levels:

S:   1.3668    1.3680    1.3702
R:   1.3736    1.3748    1.3770

Current trend: BUY

Swiss Retail Sales y/y will be released today:

The Swiss retail sales will be released today at 8:15 a.m. GMT. There will action in USD/CHF around this release.

EUR/USD technical analysis today 08.02.2010:

The  pair continues its downtrend movement. On the 4-hour and the one day chart and looks like the currency pair may continue to a deeper decline.

support:      1.3606    1.3623    1.3633
resistance:   1.3660    1.3677    1.3687

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GBP/USD technical analysis 2/5/2010:

Current price 1.5680. The pair looks like it may remain in downtrend position. It will depend on the PPI Input m/m report which may support the GBP in positive direction.

Current trend: STRONG SELL

PPI Input m/m will be released today:

It's a leading indicator of consumer inflation. The previous report on Jan 8, 2010 was positive for the GBP because the actual report was higher than the forecast. This time the forecast is 0.7% and a higher number than that will be in favor for the British currency. The report will be released today at 9:30 a.m. GMT.