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GBP/USD Outlook – September 5-9

becci — Mon, 05 Sep 2011 09:54:57 +0000

Continuing last week’s reversal the British pound fell further against the dollar this week. This week is very busy, with the rate decision in the limelight. Here is an outlook for this week’s events, and an updated technical analysis for GBP/USD.

Sterling lost ground as the UK reported a lower August manfacturing PMI and a decrease in housing prices, signalling a stalling economic recovery.

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GBP/USD Elliott Wave Update

Yohay — Fri, 08 Apr 2011 07:46:06 +0000

Very nice, almost perfect advance since yesterday update at the end of the Wall Street session when a fourth wave triangle has completed. We know that triangle unfolds just prior to the FINAL wave of a the larger pattern, and as such, prices will likely slow down in sessions ahead, since our blue wave (v) is a final wave of an extended back wave 3.

Guest post by Gregor Horvat

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GBP/USD Loses Support On Multiple Worries

Yohay — Mon, 28 Mar 2011 08:29:36 +0000

GBP/USD hit a 6 week low and lost support after a series of worries hit Britain and as the US dollar strengthens across the board.

Cable already started the week with a Sunday gap, falling to 1.60, but later through the Asian session, it managed to recover and trade slightly higher. When European traders returned from the weekend, the pair fell, and dropped as low as 1.5958 before recovering some of it’s losses.

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British Employment Data Mixed – Pound Drifting Lower

Yohay — Wed, 16 Mar 2011 09:42:54 +0000

The all-important Claimant Count Change indicator, showing the change in the number of people claiming for unemployment benefits, unexpectedly dropped by 10,200 people. These good news pushed GBP/USD slightly higher, but another employment number weighed in the other direction.

The Claimant Count Change is for the month of February, which ended just now. This freshness makes it important. But on the other hand, the unemployment rate in Britain unexpectedly rose to 8% from 7.9% in recent months. While this rise is marginal and the data is for an earlier period, the rise back to the round number of 8% is somewhat painful.

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GBP/USD Outlook – September 6-10

Yohay — Sun, 05 Sep 2010 08:45:04 +0000

The Pound showed weakness in the past week, and is now facing important tests. The upcoming week consists of a rate decision among other important releases. 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:

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GBP/USD Outlook – August 30 – September 3

Yohay — Sun, 29 Aug 2010 05:00:39 +0000

The upcoming week is packed with events, with PMI figures in the limelight. Here’s an outlook for the British events, and an updated technical analysis for GBP/USD.

GBP/USD daily chart with support and resistance lines marked. Click to enlarge:

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GBP/USD Outlook – August 9-13

Yohay — Sat, 07 Aug 2010 15:00:02 +0000

Employment data and King’s report about inflation are the limelight of this week’s events. Here’s an outlook for the events that will rock the Pound, and an updated technical analysis for GBP/USD.

GBP/USD chart with support and resistance lines marked. Click to enlarge:

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GBP/USD Outlook – July 26-30

Yohay — Sat, 24 Jul 2010 22:07:25 +0000

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:

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Britain’s Economy Jumps by 1.1% in Q2 – Pound Leaps

Yohay — Fri, 23 Jul 2010 08:38:24 +0000

The British economy grew by 1.1% in the second quarter of 2010 according to the first release. This is a very impressive leap, much higher than 0.6% that was expected. GBP/USD reacts with a leap against the dollar, breaking the 1.5350 resistance line and continuing north. Update on the recovering Pound.

Early expectations stood on a growth rate of 0.6%, double the growth rate of Q1. The actual result, 1.1%, is almost double the early forecasts and almost 4 times the growth rate in Q1. Let’s see the lines:

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British Rate Hike – Not So Soon – Pound falls

Yohay — Wed, 21 Jul 2010 08:31:23 +0000

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 created the impression that the rising inflation will force the BoE to raise the rates. He repeated this opinion in interviews that he gave in the past month. Nevertheless, Mervyn King, that disregarded rising inflation again and again, did it once again. Also the other members weren’t impressed.

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