- Wednesday, 24 February 2016
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 25 February
From the UK, yesterday, Mortgage Approvals data was published. BBA Mortgage Approvals rose to 47,500, beating forecasts on increase to 45,200. Richard Woolhouse, Chief Economist at the BBA, said: “The start of the year has seen a significant rise in mortgage borrowing. It seems that this has been driven, in part, by borrowers looking to get ahead of the increases in stamp duty for buy-to-let and second home buyers scheduled to come into effect in April.
Read more...- Wednesday, 24 February 2016
- Daily Technical Analysis
GBP/USD Daily Forecast – 25 February
Sterling continued its decline during the yesterday's session, going all the way to 1.49 handle, thus breaking below significant supportive area at 1.40 handle, which is of course quite bearish sign which indicates that we could be seeing pair at least at 1.37 handle. Besides Brexit concerns, dovish comments from BoE officials on interest rates added additional pressure on the pair. Tomorrow, we would pay attention to GDP figures. Any type of supportive candles around 1.3850 level and 1.38 area, would be short-term buying signal, while resistive candles near 1.40 area, would offer short-term buying opportunity.
Read more...- Tuesday, 23 February 2016
- Daily Technical Analysis
GBP/USD Daily Forecast – 24 February
Sterling continued its decline during the yesterday's session, testing area around 1.40 handle for a support and bouncing out slightly. Besides Brexit concerns, dovish comments from BoE officials on interest rates added additional pressure on the pair. With no major data releases tomorrow, we can expect a bit steadier session. Any type of supportive candles around 1.40 level and 1.3960 area, would be short-term buying signal, while resistive candles above 1.41 area, would offer short-term buying opportunity.
Read more...- Tuesday, 23 February 2016
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 24 February
Focus of yesterday's session was on Inflation Report Hearings. The Bank of England could cut interest rates to zero, but will seek to avoid following Sweden, Denmark and the eurozone by setting negative rates to bolster growth and inflation. Mark Carney, the Bank’s governor, said Threadneedle Street had “no intention and no interest” in implementing negative interest rates and would adopt the full range of the Bank’s other powers to deal with a downturn in the economy.
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