- Friday, 22 January 2016
- Weekly Technical Analysis
GBP/USD Weekly Forecast – 25 January – 29 January
After it initially fell during the last week, mostly due to dovish Governor Carney's comments regarding rate hike, Sterling found area slightly below 1.41 handle to be supportive enough in order to rebound by the end of the week, even break above 1.43 handle in the course of the Friday's session, though by the end of it pair pulled back. As for next week focus will be on UK GDP figures. Pair is likely to find support around 1.43 handle initially, and in a case of a larger decline, last week lows at 1.41 handle, while there is plenty of resistance above 1.43 handle extending all the way to 1.45 handle, so these are the key short-term buying and selling points.
Read more...- Friday, 22 January 2016
- News
UK Retail Sales down 1.0%
- Thursday, 21 January 2016
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 22 January
There were no data releases from the UK yesterday. Sterling fell due to dovish comments from Bank of England Governor Mark Carney. The BOE head said he had no set timetable for raising interest rates, warning of more damage to come from a slowing Chinese economy. Painting a gloomy picture of the global economy, the Bank of England governor declared that ‘now is not yet the time to raise interest rates’ in Britain. It came as China’s slowing economy recorded its weakest pace of annual growth for a quarter of a century and the International Monetary Fund trimmed its outlook for the rest of the world.
Read more...- Thursday, 21 January 2016
- Daily Technical Analysis
GBP/USD Daily Forecast – 22 January
Sterling was initially pushed lower in the course of the yesterday's session, all the way to below 1.41 handle, but managed to find support around 1.4080 level in order to turn around and form a hammer as a daily candle, which is of course positive sign, though only short-term looking. Tomorrow, we would pay attention to Retail Sales figures. Weaker than expected data would push pair back to 1.41 handle, while better than forecasted figures could bring rebound but with resistive points at 1.4250 and 1.4280 area.
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