GBP/USD: general analysis and forecast on 10.10.2014

October 10, 2014

Current trend 

Following sharp rise, the Pound has started to drop and is now traded near resistance level of 1.6113 (4/8 Murray). If this level is broken down, the pair can fall to the level of 1.6052.

The Pound is under pressure from the decision of the Bank of England to leave basic interest rate unchanged although currently the rate is at the very low rate of 0.5%. The second negative reason is the fact that asset repurchase program has been also left unchanged at the level of 375 billion pounds. According to the regulator, British economy still needs support; therefore it does not make sense to change monetary policy of the country. Nevertheless, it is expected that the interest rate will be raised in Q1 2015 in case of the stable economic growth in the country.  

Publication source
LiteForex information  LiteForex reviews

September 29, 2016
Will Brexit be more painful for Europe rather than for the UK?
The risk is increasing on the market ahead OPEC meeting in Algiers and Yellen testimonial, which will happen before the House panel. FED-fueled rally on gold starts to fizzle out as the December futures keep on a losing streak for a second day, finally dipping by 0.12% to 1,328.75...
September 28, 2016
US presidential debate moves unwind
The market’s initial response to the US presidential election debate overnight was a clear sigh of relief. The Mexican Peso, which had hit a record low against the dollar just the day before, surged higher, as too did the Canadian dollar...
September 27, 2016
Markets start last week of September on the back foot
It hasn't been a great start for global equities in this last week of September, with European indices dropping between 1.0 to 1.5 per cent during Monday’s morning session, mirroring a similar performance in Chinese and Japanese markets overnight...

XM Rating
HYCM Rating
OctaFX Rating
Larson&Holz IT Ltd Rating
FxPro Rating
Grand Capital Rating

OptionRally Rating
Anyoption Rating
Banc De Binary Rating
24option Rating
OptionTrade Rating
Beeoptions Rating