GBP/USD is trading at the year to date lows, especially hit by the recent BOE inflation report. What’s next for cable? The team at Credit Agricole provides some insight: Here is their view, courtesy of eFXnews: Falling BoE rate expectations have been keeping the GBP under pressure of late. This is mainly due to the central bank downgrading its growth and inflation forecasts. However, as more muted price developments are mostly driven by external factors and as the latest data indicates stabilizing wage price developments, we see little scope of more considerable currency downside from the current levels, in particular as incoming price data may surprise positively. From that angle investors’ focus turns to next week’s October CPI release. As a result to the above outlined conditions we advise against selling the GBP around the current levels, in particular against the CHF. As such we stay long the cross as a trade recommendation. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD Nov. 13 – In the upper range, ahead of Yohay Elam 7 years GBP/USD is trading at the year to date lows, especially hit by the recent BOE inflation report. What's next for cable? The team at Credit Agricole provides some insight: Here is their view, courtesy of eFXnews: Falling BoE rate expectations have been keeping the GBP under pressure of late. This is mainly due to the central bank downgrading its growth and inflation forecasts. However, as more muted price developments are mostly driven by external factors and as the latest data indicates stabilizing wage price developments, we see little scope of more considerable currency downside from the current levels, in particular… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
