GBP/USD Bounces Off Support Line on Meeting Minutes

The meeting minutes from the last meeting of the BoE showed that there’s still one member voting for a rate hike. This helped GBP/USD bounce off the support line, after it got very close to it. Update on the Pound. Andrew Sentance continues to vote for a rate hike. He’s still the only member out [...]

British Inflation Sliding Towards Target

British consumer prices are still above target. CPI dropped from 3.2% to 3.1%, exactly as expected. Other inflation related figures were softer than predicted, and the immediate reaction of the Pound was a small drop. Core CPI unexpectedly dropped from 3.1% to 2.6%, showing that the higher inflation isn’t really strong. Also the RPI (Retail [...]

GBP/USD Outlook – July 26-30

A more quiet week in terms of indicators expects the Pound, but Mervyn King’s public appearance could rock the currency. Here’s an outlook for the 4 events that will move the currency, and an updated technical analysis for GBP/USD. GBP/USD chart with support and resistance lines on it. Click to enlarge: A rate hike in [...]

British Rate Hike – Not So Soon – Pound falls

The MPC Meeting Minutes revealed that there’s still only one member, Andrew Sentance, who wants a rate hike. So, the rising inflation will continue to be disregarded. Without an upcoming rate hike, GBP/USD doesn’t have fuel to rise. This sends GBP/USD down from 1.5330 to 1.5260. Andrew Sentance surprised with his vote last time, and [...]

Forex Daily Outlook – July 13 2010

American and Canadian Trade Balance followed by German ZEW Economic Sentiment and UK’s CPI highlight today’s activities. Here is an outlook on the events at hand. In the US, The trade deficit in the U.S. widened in April to $40.3 billion the highest in more than a year as exports and imports both declined. A [...]

GBP/USD Stuck in a Range – Will it Fall?

GBP/USD is trading in an almost perfect range in the past week. The longer the range – the stronger the explosion, but in which direction? Here are some reasons for it to go down. Last Friday, GBP/USD enjoyed the weak Non-Farm Payrolls in the US to rise to new levels. Since then, it has traded [...]

GBP/USD Outlook – July 5-9

A very interesting rate decision expects us in Britain, with inflation becoming a threat. There are many more indicators in this busy week. Here’s an outlook for the British events, and an updated technical analysis for GBP/USD. GBP/USD daily graph with support and resistance lines on it. Click to enlarge: The pressure for a rate [...]

Pound Leaps on Upcoming Rate Hike In Britain

This rate decision was different in Britain – one member, Andrew Sentance, wants to address the rising inflation and to raise the rates. This is the first signal. GBP/USD reacts with a rise and aims to reach 1.50. Andrew Sentance doesn’t disregard inflation like his boss Mervyn King. King, the governor of the Bank of [...]

Forex Daily Outlook – March 18th 2010

Many American figures are due today, so lots of action is awaiting us. Will the dollar continue to weaken? Let’s see what’s up for today. EUR/USD hasn’t broken the critical 1.3850 level. I still claim that the current rise is temporary before the fall. GBP/USD made it above the critical line of 1.5350, but has [...]

GBP/USD Outlook – March 15-19

The Pound enjoyed the dollar’s weakness to rise this week, but still under important resistance levels. The upcoming week consists of important employment figures among other events. Here’s an outlook for British events and an updated technical analysis for GBP/USD. GBP/USD chart with support and resistance lines marked. Click to enlarge: Mervyn King didn’t make [...]

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