GBP Trading Outlook


 
16.5.2013-14.5.2013 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 28.10.2011-24.10.2011

23th March

The Sterling (GBP) weak Retail sales in February at -0.4% vs. 0.8% forecast put a dampener from the start of the European session with GBP/USD falling sharply under 1.5800. GBP/JPY has fallen from Y133 to Y130 in the last 48 hours. The uptrend is still in place but starting to come under pressure and a break below Y130 would damage prospects.

22th March

The Sterling (GBP) the GBP/USD reversed in Europe as well after a surprise 7-2 MPC vote with two members wanting even more QE at the last meeting. The EUR/GBP was unaffected and demonstrated the resilience of the Pound in recent sessions and GBP/AUD extended gains to test 1.5200. Looking ahead, February UK Retail Sales forecast at -0.4% vs. 0.9% previously. Also ECB President Draghi speaks.

21th March

The Sterling (GBP) the GBP/USD remains stable and supported but was unable to break above the 1.5900 and the EUR/GBP grinded higher above 0.8350. The GBP/AUD break above the major 1.5000 level saw a sharp move to 1.5150 and has heaps of space to move higher. Looking ahead, UK MPC minutes from March meeting forecast at 9-0 hold.

20th March

The Sterling (GBP) the GBP/USD tested 1.5900 but fell back in the US session as EUR/GBP rebounded off the 0.8300 level and is threatening 0.8350 resistance ahead of key CPI data today from the UK. Looking ahead, February CPI forecast at 0.5% vs. -0.5% previously. February March CBI orders forecast at -6 vs. -3 previously.

19th March

The Sterling (GBP) kicked above 1.5700 shrugging of the negative outlook to its rating from Fitch. The EUR/GBP is holding above 0.8300 comfortably and the market seems content to trade the range for now 0.8300-0.8400. Looking ahead, January Trade Balance previously at 9.7bn


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