Looking forward for the next week's GDP statistics and mortgage lending data in the UK. It's all old data on the "other" Britain, but if they would be worse than expected, the sterling would not escape from the Bank of England's easing policy in the beginning of August.
victoriajensen
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GBP/USD is stuck in a tight range between 1.3160 - 1.3080 and it's doubtful that range will end before the fundamentals tomorrow.
Yeah lets wait for Fed it will set the tone for US Dollar, I'm going to take advantage on GBP/USD selling it. Bears mount positions near 1.31 I think GU will shoot down below 1.30 on Yellen
Atilla
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GU looking to test 1.3060 & 1.3000 levels soon.
Test of 1.2900 is not far from imagination either.
Upside is pending Fed decision. I don't think they'll move but simply keep things as they are. No move up on Inflation or Dollar index is high enough.
Keep it steady teddy imo.
Test of 1.2900 is not far from imagination either.
Upside is pending Fed decision. I don't think they'll move but simply keep things as they are. No move up on Inflation or Dollar index is high enough.
Keep it steady teddy imo.
The British Pound was up against the US Dollar on Friday. At the closing of trading session EUR GBP / USD has traded at 1.3228, gaining 0.49%. I believe that the support is now located at the level of 1.3055, Tuesday's low, and resistance is likely at level of 1.3302 - a maximum of Friday's trading.
The pair pound/dollar started to grow at the weakening of the dollar, but not strong. A support for the pound had the statistics. The volume of consumer credit in June increased from 1.59 to 1.87 billion. Mortgage lending in the same month increased from 2.90 to 3.3 billion. However, these data are insufficient for the couple go out from the lateral movement. Maybe next week something will change.
fxstrategist
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Gbpusd
The GBPUSD is still consolidating, but it may try to breakout to the upside and reach the 1.3532 level.
The GBPUSD is still consolidating, but it may try to breakout to the upside and reach the 1.3532 level.
Ahead of BoE rate cut? Are you kidding? See 1.31 in next two days.
Atilla
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I still have cable down as trending along 1.28-1.32. Give or take a few outbursts to either side.
Can't see this changing unless we have major news changing FA.
Even the rate drop talked about will not take it too low. Expecting 1.28s to hold.
Can't see this changing unless we have major news changing FA.
Even the rate drop talked about will not take it too low. Expecting 1.28s to hold.
Significant growth marked the pound against the dollar on Tuesday. So the British currency fully recovered its losses from the previous session and with a maximum for the day at 1.3364 has breached the first resistance at 1.3342. Short-term expectations are still in favor of the pound. In this case the pair can make a second test at a key level 1.3496. The Tuesday session opened at rate of 1.3174 and bullish trend was leading from the start. Finish line was crossed at a price of 1.3353.
Pound/dollar had upward momentum yesterday, topped at 1.3364. The bias is bullish in nearest term testing of 1.3400/20, but I mainly stay in the camp of bears yet. First support is seen at 1.3300. A clear break below that area could lead the price to neutral trade zone testing 1.3250 or lower.
victoriajensen
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GBP/USD is testing the resistance at 1.3350. A possible breakout above that level could lead to a further move to the upside towards the previous high at 1.3480.
victoriajensen
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BoE is about to announce its bank rate and Mark Carney's speech is imminent as well. There will likely be major volatility, trade this pair carefully.
victoriajensen
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The pair bounced off 1.3100 and is currently testing 1.3165. A breakout above that level would lead to a further move to the upside towards 1.3190 - 1.3200, but that also depends on the US Non-farm payrolls.
arigoldman
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Good move yesterday!
