Market Cap:
$210B
BTC Dominance:
65.96%
btc:
$7,666.39
eth:
$162.35
xrp:
$0.24
Advertise
Forex

8 Oct 2014 GBP/USD Analysis

8 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 GBP/USD traded just above 1.611 yesterday before closing the day at 1.6088

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 retracement for the past 2 days seems to have come to an end possibly via the downtrend line in red as the closest resistance

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 Traditional MACD looks likely to lose steam as it tries to close higher into bullish territory as the candles on the H1 charts look to consolidate around the 104 moving average in orange.

Manufacturing Production in the U.K increased 0.1% month on month, while Industrial Production was unchanged, as GBP/USD resisted momentarily at 1.608 during yesterday’s U.K session. The BOE is expected to raise interest rates and the earlier it raises against Fed, the rate of Cable may reach 1.7 yet again. The Pound is also estimated to raise 4% against the Euro by 2015 by ING bank.

Record low interest rates and demand from foreign buyers saw prices of housing accelerate at a pace not seen since 1987, but recently erosion has set in due to limiting the number of high loan-to-income mortgages.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight Bearish1.59561.61.6061.611.6141.6171.611.6131.6

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.