wrapper

Sterling was initially pushed higher in the course of yesterday's session, after CPI and PPI figures, but after dovish BoE Governor Carney's comments regarding rate hike, pair broke lower all the way to 1.4120 area. As for tomorrow, we would be focused on UK job figures. Weaker than expected figures would push pair all the way to 1.41 handle, while better than forecasted data would bring rebound but with resistance around 1.4250 and 1.4280 level in extension.

In long-term trends, since pair broke to new lows, which is of course negative sign, we believe that pair is now heading towards 1.40 handle. Dovish comments regarding interest rates added additional pressure to the pair. With that being the case, we have no interest in buying this pair at the moment. 

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.