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GBP Trading Outlook

 

9.5.2012-7.5.2012 4.5.2012-30.4.2012 27.4.2012-23.4.2012 20.4.2012-16.4.2012 13.4.2012-9.4.2012 5.4.2012-2.4.2012 30.3.2012-27.3.2012 23.3.2012-19.3.2012 16.3.2012-12.3.2012 9.3.2012-5.3.2012 2.3.2012-27.2.2012 24.2.2012-20.2.2012 17.2.2012-13.2.2012 10.2.2012-6.2.2012 3.2.2012-30.1.2012 27.1.2012-23.1.2012 20.1.2012-16.1.2012 13.1.2012-9.1.2012 6.1.2012-2.1.2012 30.12.2011-26.12.2011 23.12.2011-19.12.2011 16.12.2011-12.12.2011 9.12.2011-5.12.2011 2.12.2011-28.11.2011 24.11.2011-21.11.2011 18.11.2011-14.11.2011 11.11.2011-7.11.2011 4.11.2011-31.10.2011 28.10.2011-24.10.2011 21.10.2011-17.10.2011 14.10.2011-10.10.2011 6.10.2011-3.10.2011 30.9.2011-26.9.2011 23.9.2011-19.9.2011 16.9.2011-12.9.2011 9.9.2011-5.9.2011 2.9.2011-29.8.2011 26.8.2011-22.8.2011 19.8.2011-15.8.2011 12.8.2011-9.8.2011 4.8.2011-2.8.2011 29.7.2011-25.7.2011 22.7.2011-18.7.2011 15.7.2011-11.7.2011 8.7.2011-4.7.2011 1.7.2011-28.6.2011 24.6.2011-20.6.2011 16.6.2011-13.6.2011 10.6.2011-6.6.2011 3.6.2011-30.5.2011 27.5.2011-23.5.2011 20.5.2011-16.5.2011 13.5.2011-9.5.2011 6.5.2011-2.5.2011 29.4.2011-25.4.2011 21.4.2011-18.4.2011 15.4.2011-11.4.2011 8.4.2011-4.4.2011 1.4.2011-28.3.2011 25.3.2011-21.3.2011 17.3.2011-14.3.2011 11.3.2011-8.3.2011 4.3.2011-28.2.2011 25.2.2011-21.2.2011 18.2.2011-14.2.2011 11.2.2011-7.2.2011 4.2.2011-31.1.2011 28.1.2011-25.1.2011 21.1.2011-17.1.2011 14.1.2011-10.1.2011 7.1.2011-3.1.2011 31.12.2010-29.12.2010 24.12.2010-20.12.2010 17.12.2010-13.12.2010 10.12.2010-6.12.2010

28th October

The Sterling (GBP) underperformed against the USD and on the crosses with traders wary at buying the beleaguered pound while they can express risk through the Euro or the AUD. EUR/GBP suffered a sharp move high and GBP/USD struggled above 1.6000 although it did close up above 1.6100 after US stock gains overwhelmed sellers.

27th October

The Sterling (GBP) was up and down with the changing sentiment finishing above 1.6000 as the bailout package was announced and threatening to break above the 1.6040 highs. EUR/GBP buying is suppressing the Cable but if 1.6040 is broken then a sharp rally could ensue. Looking ahead, October CBI Distributive Trades forecasts -15 vs. -15 previously.

26th October

The Sterling (GBP) the GBP/USD remained pivoted at the 1.6000 level failing to move far from the level even as risk aversion picked up in the US session. EUR/GBP remained steady as well but is grinding lower under 0.8700. Q2 Current account came in at -2bn vs. -4.1bn in Q1. Looking ahead, October CBI Orders forecast unchanged at -9.

25th October

The Sterling (GBP) the GBP/USD tested 1.6000 for most of the US session consolidating just under the big figure. EUR/GBP remained steady with the two majors moving in lock step. The outlook is largely linked to the Euro still and most traders are sidelined ahead of the EU summit announcements. Looking ahead, Q2 Current Account forecast at -9.3bn vs. -9.35bn previously.

24th October

The Sterling (GBP) GBP/USD rallied sharply with stocks breaking above 1.5900 and threatening to test 1.6000 in coming sessions if the uptrend can continue. EUR/GBP selling added to the Pound support but the next direction is completely dependent on the EU Summit. Looking ahead, MPC Member Tucker speaks.

  Go to The Sterling (GBP) Archive