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

January 17, 2017
Oil spikes higher on Saudi Oil minister comments
Oil has spiked higher on Al Falih comments in Davos (Saudi oil minister). He said during a panel discussion at WEF in Davos that there will be inflation in the cost of doing business in the oil industry, following the squeeze that accompanied the decline in crude prices...
January 16, 2017
GBP under pressure ahead of May speech
A speech from Theresa May is one of the key events for financial markets this week and certainly the most relevant for the British pound. Primie Minister is about to deliver a speech on UK’s stance and conditions ahead of the triggering article 50 and beginning the Brexit negotiations...
January 13, 2017
Yellen (Fed) with a neutral message but USD starts to fight back
USD was taking damage from the Wednesday Donald Trump specch until yesterday evening. Lack of details on economic and fiscal agenda at the first press conference of the president-elect caused a correction on equities boosted since the US elections...

Fort Financial Services Rating
Trade360 Rating
 FXTM Rating Rating
XTB Rating
FBS Rating

OptionRally Rating
OptionFair Rating
TopOption Rating
Binary Brokerz Rating
24option Rating
OptionBit Rating