GBP Trading Outlook


 
22.5.2013-20.5.2013 17.5.2013-14.5.2013 10.5.2013-6.5.2013 2.5.2013-30.4.2013 26.4.2013-22.4.2013 16.4.2013-16.4.2013 10.4.2013-25.3.2013 21.3.2013-19.3.2013 15.3.2013-11.3.2013 7.3.2013-4.3.2013 1.3.2013-25.2.2013 22.2.2013-18.2.2013 15.2.2013-12.2.2013 8.2.2013-4.2.2013 1.2.2013-28.1.2013 25.1.2013-21.1.2013 18.1.2013-14.1.2013 11.1.2013-7.1.2013 4.1.2013-2.1.2013 27.12.2012-18.12.2012 12.12.2012-10.12.2012 7.12.2012-26.11.2012 22.11.2012-12.11.2012 9.11.2012-5.11.2012 2.11.2012-29.10.2012 26.10.2012-22.10.2012 19.10.2012-15.10.2012 12.10.2012-8.10.2012 5.10.2012-1.10.2012 28.9.2012-24.9.2012 21.9.2012-17.9.2012 14.9.2012-10.9.2012 7.9.2012-3.9.2012 31.8.2012-27.8.2012 24.8.2012-20.8.2012 17.8.2012-13.8.2012 10.8.2012-6.8.2012 3.8.2012-30.7.2012 27.7.2012-23.7.2012 20.7.2012-16.7.2012 13.7.2012-9.7.2012 6.7.2012-2.7.2012 29.6.2012-26.6.2012 22.6.2012-18.6.2012 14.6.2012-11.6.2012 8.6.2012-4.6.2012 1.6.2012-28.5.2012 25.5.2012-21.5.2012 18.5.2012-14.5.2012 11.5.2012-7.5.2012 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

13th July

The Sterling (GBP) the GBP/USD broke 1.5450 overnight and closed under the figure but the follow-through selling was mild and we are sitting just under the key support as we enter European trade on Friday. Some support is being seen from EUR/GBP selling but the main driver is stocks which are trending lower lately. The ongoing Libor banking scandal is also threatening to damage the UK banking sector and not helping sentiment at all. Looking ahead, no data tonight.

12th July

The Sterling (GBP) the GBP/USD reversed a rally from 1.5570 to 1.5500 after the FOMC minutes threw cold water on QE3 hopes. The lack of EUR/USD support is weighing on the GBP which had been developing some bullish feel in the previous few weeks. A break of 1.5450 would put 1.5000 back into the radar and encourage further attempts lower. Looking ahead, May Industrial Production forecast at 0.0% vs. -0.8% previously. Also ECB President Draghi speaks today.

11th July

The Sterling (GBP) Economic data in the UK was stronger than expected but weak US stocks meant little fresh direction for GBP/USD. EUR/GBP managed to fall below 0.7900 but there was little follow through. Looking ahead, German CPI is forecast at -0.1% in June m/m.

10th July

The Sterling (GBP) tracked the EUR/USD higher back above 1.5500 to 1.5530 resistances. Last week’s BOE moves have been priced in but there are still some downside risks. EUR/GBP targets 0.7900 but could bounce if the market changes mood on the EUR/USD. Also ahead, May Industrial Output forecast at -0.2% vs. 0%. May Trade Balance forecast at -9bn vs. -10.1bn previously.

9th July

The Sterling (GBP) the USD strength on Friday sent Cable to its final big support at 1.5450. The outlook is for more USD strength unless there is FED easing or the EUR/USD can find support. EUR/GBP is a source of constant support but this cannot continue forever. Also ahead, ECB President Draghi and UK MPC member Tucker are scheduled to speak.


  Go to The Sterling (GBP) Archive