Nov 16, 2010

GBPUSD fell fractionally last week as Sterling held onto much of its recently attained ground against the Greenback. The rate started the week out on a soft note by trading off of its weekly high of 1.6212 on Monday after concerns in the Eurozone about Irish debt had a predictable negative effect on Cable. The rate continued heading south on Tuesday and made its...

Nov 10, 2010

The week following the FOMC continues to surprise us. We are moving pretty fast and furious between key themes this week, and market action is now being pushed around by some new ones. First, we had the Pound strengthening following the release of the BOE Quarterly Inflation Report. In it, the message was that inflation will continue to remain above the 2%...

Nov 9, 2010

GBPUSD continued gaining last week, adding to the previous week’s impressive +2.1% gain. Cable began the week on a quiet note, as the rate traded in a narrow range on Monday after U.K. Manufacturing PMI was released at the 54.9 level versus an anticipated 53.2 print. Last Monday saw the release of generally weaker U.S. economic data. In particular, the...

Nov 3, 2010

Daily Forex Update: GBP/USD 3 of November, 2010 by, Dima Chernovolov GBPUSD is continuing to rise within the Rising Wedge price formation on the daily chart. This price pattern demonstrates significant Uniformity and Clarity – both rated at 6 bars by the Autochartist. The pair is trading around the round price level 1.6000 that should be cleared...

Oct 27, 2010

Over the last several months, most analysts have been very concerned about growth prospects in the U.K.  as Prime Minister Cameron has been slashing public spending in an attempt to reign in a huge public deficit.  Bank of England Governor Mervyn King has been quite dovish concerning U.K. growth and has stated that it will be a very long road to full recovery...

Oct 26, 2010

The UK Pound saw all kinds of strength today, rallying strongly against its 3 main rivals the Euro, Dollar, and Yen. The gains were spurred by two very good fundamental developments – stronger than expected GDP growth and a positive upgrade by S&P of the outlook for UK debt. First, the UK economy grew 0.8% in the 3rd quarter compared to the 2nd quarter, a...