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3rd Nov 2014 GBP/USD Analysis

3rd Nov 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, GBP/USD projections, GBPUSD projections, MPC Cable trades in the sideways zone of 1.625-1.5900 seen in Oct-Dec 2012 and 2013. Moving averages looks to show resistance as the pair looks likely to drop towards 1.5900

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, GBP/USD projections, GBPUSD projections, MPC 2 days of pullbacks from the support at 1.5962 for Cable as market remains indecisive

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, GBP/USD projections, GBPUSD projections, MPC A breakthrough of 1.607 or 1.5900 would be the call for the week as we decipher the trend for GBP/USD

Cable remains in range of 1.6000 psychological price level as 1.5900 beckons, a similar repeat of the Sept – Nov 2013 consolidation movement that resulted in bullish run that saw GBP rally to almost 1.72 against the Dollar. The Bank of England set a lower than expected minimum regulatory ratio that banks have until 2019 to comply. Britain is following the U.S. in making banks maintain a leverage ratio that exceeds the minimum 3 percent set by the Basel Committee on banking Supervision, offering a basic leverage ratio of 4.05% to upwards of 4.95% Regulators are trying to strengthen the financial system by raising the minimum core capital banks must hold, without considering loans for risk level.

Manufacturing PMI out of the U.K today is expected to slow slightly, and any increase is likely to reflect in a bullish intraday movement for the Pound as it reattained 1.5962 support just as October 2014 began, the first shoulder of the initial potential inverted head and shoulders formation.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight Bearish/ Near support 1.587 1.59001.5962 1.60001.6071.614 1.6001.6061.59

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