- Monday, 22 February 2016
- News
CBI Industrial Order Expectations survey showed a balance of -17%
- Monday, 22 February 2016
- News
Sterling down on Brexit concerns
- Friday, 19 February 2016
- Daily Technical Analysis
GBP/USD Daily Forecast – 22 February
Sterling went back and forth in the course of the session on Friday. Pair was initially pushed higher after better than forecasted UK Retail Sales figures, but then pulled back following US CPI reading, only to finally break once again higher above 1.43 handle. With no major data releases on Monday, pair is likely to find support around 1.4250 handle, and 1.42 handle in extension, as these were major resistive points in the past and resistance above 1.44 handle so this is where we would consider placing short-term selling bids.
Read more...- Friday, 19 February 2016
- Weekly Technical Analysis
GBP/USD Weekly Forecast – 22 February – 26 February
Pound break below 1.43 handle in the course of the last week, despite rather good UK figures. This is of course a bearish sign, which indicates that pair is not ready for breaking higher at the moment. Focus of the next week will be on GDP figures. Weaker than expected data would push pair lower with support around 1.4250 and 1.42 level in extension, so this is where we would consider buying the pair in short term-trends. On the other hand, better than forecasted figures would lead to the uptrend all the way to 1.44 and 1.4480 handle where we can expect major resistance and short-term selling opportunity.
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