- Thursday, 18 February 2016
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 19 February
There were no data releases from the UK on Thursday. EU leaders go into a make-or-break summit on Thursday facing difficult compromises to keep Britain in the bloc and wrangling with Europe’s worst migrant crisis since World War II. Prime Minister David Cameron’s demand for key reforms in return for Britain’s continued membership has exposed a rift over whether the EU’s future is to move ever closer together or to ease ties, becoming a looser group of distinct sovereign nations. Fail to get a deal and Cameron has said anything is possible, including Britain becoming the first country to leave the 28-nation bloc after an in-or-out referendum that could come as early as this summer. Cameron has staked his political survival on securing the reform deal and winning the plebiscite in hopes of ending a political feud over Britain’s place in the EU that has plagued his Conservative Party for a generation. Read more...
- Wednesday, 17 February 2016
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 18 February
Focus of yesterday's session was on UK job figures. The jobless rate in the U.K. held steady at a decade-low in December, while the average earnings index increased in line with expectations, painting a mixed picture of the labor market, official data showed on Wednesday. The Office for National Statistics said that the rate of unemployment held at 5.1% in the three months to December, disappointing expectations for a drop to 5.0%. Read more...
- Wednesday, 17 February 2016
- Daily Technical Analysis
GBP/USD Daily Forecast – 18 February
Sterling was initially pushed higher in the course of the session on Wednesday, but found area around 1.4340 level to be resistive enough in order for pair to pullback by the end of the session below 1.43 handle. There will be no data releases tomorrow so we can expect a bit steadier session. Pair is likely to find support around 1.42 handle, and 1.4150 handle in extension, as these were major resistive points in the past and resistance above 1.4350 handle so this is where we would consider placing short-term selling bids. Read more...
- Wednesday, 17 February 2016
- News
UK Unemployment Rate unchanged at 5.1%
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