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2 Oct 2014 GBP/USD Analysis

2 Oct 2014 GBP/USD Analysis

dollar, Pound, Sterling, Pound Sterling, Sterling Pound, GBP, GBP/USD, GBP/USD Forecast, GBPUSD analysis, GBPUSD outlook, GBPUSD technical analysis, Bank of England, BOE, Mark Carney, U.S Dollar, USD, GBP/USD outlook, GBPUSD forecast For the second day in a row the Pound retraced in the early part of the trading day before continuing its fall against the Dollar

dollar, Pound, Sterling, Pound Sterling, Sterling Pound, GBP, GBP/USD, GBP/USD Forecast, GBPUSD analysis, GBPUSD outlook, GBPUSD technical analysis, Bank of England, BOE, Mark Carney, U.S Dollar, USD, GBP/USD outlook, GBPUSD forecast 1.616 looks like a genuine price support that will hold the fate of Cable ahead of the U.S jobs report tomorrow.

dollar, Pound, Sterling, Pound Sterling, Sterling Pound, GBP, GBP/USD, GBP/USD Forecast, GBPUSD analysis, GBPUSD outlook, GBPUSD technical analysis, Bank of England, BOE, Mark Carney, U.S Dollar, USD, GBP/USD outlook, GBPUSD forecast The downtrend line in red still holds strong as traders ignored retracements to add on their shorting orders, keeping the pair firmly bearish.

The possible end of the Fed’s stimulatory asset purchase program has mixed effects across the major economic powers in the world, with the Pound’s own optimism being swept under the carpet as it continues to fall lower from 1.65, the high that has been attained post Scottish Referendum. The manufacturing PMI yesterday from the U.K did not meet expectations, and was thus unable to sustain the indications that the economy is recovering and expanding well despite the enviable jobs creation and unemployment rate drops.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Bearish1.591.611.6161.6251.631.64

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