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

February 17, 2017
Golds rally may falter
The gold price has racked up its 2nd straight day of gains today on the back of US dollar weakness and doubts over an interest rate hike next month from the US Federal Reserve...
February 16, 2017
Where is black gold heading?
The Euro is slowly going down and this is not brought on by the Eurozone situation. Instead, this is fueled by the U.S. Dollar. Yesterday, Janet Yellen gave a speech in the Senate Banking Committee emphasising the fact that it Is not quite right to use the wait-and-see stance regarding the interest rate hike...
February 14, 2017
Will France exit the euro?
The Euro has come under pressure late in the European session today, after analysts warned of the huge costs that France would face should they decide to ditch the European currency...

OANDA Rating
FX Giants Rating
NPBFX Rating
Grand Capital Rating
XM Rating

Banc De Binary Rating
99Binary Rating
Migesco Rating
Dragon Options Rating
Beeoptions Rating
GTOptions Rating