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Wednesday, 13 January 2016
Daily Technical Analysis

GBP/USD Daily Forecast – 14 January

Sterling went back and forth in the course of the Wednesday's session breaking once again below 1.44 handle but finding area around 1.4380 level to be supportive at the moment. Pair tried to break higher few times in the course of the session but found that area around 1.4470 level offers plenty of resistance at the moment. Read more...

Wednesday, 13 January 2016
News

Sterling lower ahead of tomorrow's BoE Minutes

There were no data releases from the UK today. Traders are hoping for some clues from the MPC vote and monetary statement from the BoE tomorrow as for a rate increase later in 2016 or 2017. The pound has fallen as expectations for when the Bank of England will start raising interest rates have been pushed back to 2017. Investors had previously bet rates would rise in the second half of this year, following the U.S. Federal Reserve, which last month hiked rates for the first time since 2006.
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Tuesday, 12 January 2016
Daily Fundamental Analysis

GBP/USD Daily Forecast – 13 January

Tuesday brought UK Industrial Production data. Total production output is estimated to have decreased by 0.7% between October 2015 and November 2015. Analysts were anticipating no change. There were decreases in all of the main sectors, with manufacturing, mining & quarrying and electricity & gas having the largest contributions to the decrease. Manufacturing output decreased by 0.4% in November 2015 compared with October 2015. The largest contribution to the decrease came from the manufacture of basic pharmaceutical products & pharmaceutical preparations, which decreased by 4.9%. Read more...

Tuesday, 12 January 2016
Daily Technical Analysis

GBP/USD Daily Forecast – 13 January

Sterling spent Tuesday's session in decline after much weaker than expected UK Industrial Production figures, even breaking below 1.44 handle but finding area around 1.4350 level to be supportive at the moment. Since pair broke below major support at 1.45 handle quite easily and then even continued much lower, this is of course quite bearish sign and we believe that on a long-term basis pair could go as low as 1.40 handle, especially if we see break below 1.43 handle, which should offer some amount of support for now. Buying is not an option at the moment. Read more...

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