GBP Trading Outlook


 
15.4.2014-14.4.2014 11.4.2014-7.4.2014 4.4.2014-31.3.2014 28.3.2014-24.3.2014 21.3.2014-17.3.2014 14.3.2014-10.3.2014 6.3.2014-3.3.2014 28.2.2014-24.2.2014 21.2.2014-17.2.2014 14.2.2014-10.2.2014 7.2.2014-3.2.2014 31.1.2014-27.1.2014 24.1.2014-20.1.2014 17.1.2014-14.1.2014 8.1.2014-8.1.2014 3.1.2014-23.12.2013 19.12.2013-16.12.2013 13.12.2013-9.12.2013 6.12.2013-2.12.2013 29.11.2013-25.11.2013 22.11.2013-20.11.2013 1.11.2013-28.10.2013 25.10.2013-21.10.2013 18.10.2013-14.10.2013 11.10.2013-7.10.2013 2.10.2013-30.9.2013 27.9.2013-16.9.2013 13.9.2013-11.9.2013 23.8.2013-12.8.2013 9.8.2013-5.8.2013 30.7.2013-29.7.2013 25.7.2013-22.7.2013 18.7.2013-15.7.2013 12.7.2013-9.7.2013 28.6.2013-24.6.2013 21.6.2013-19.6.2013 7.6.2013-3.6.2013 31.5.2013-28.5.2013 23.5.2013-20.5.2013 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

5th October

The Sterling (GBP) the GBP/USD enjoyed rare support as the BOE held at 0.5% and didn’t change its own QE program. The Pound tracked the Euro higher and we finished just under 1.6200. The recent run of bad data and losses had started to undermine the rally seen over the last month but last night’s performance was strong enough to scare the shorts. Looking ahead, August Industrial Orders forecast at -0.5% vs. 0.5% previously. 

4th October

The Sterling (GBP) the GBP/USD was on the back foot with some analysts suggesting the BOE will move to increase the Asset Purchase Program. GBP/USD broke 1.6100 and is threatening to slide further to 1.6000. The run of bad survey data this week is adding to the gloom with September Services PMI falling to 52.2 vs. 53.7 previously. Looking ahead, BOE forecast to hold at 0.5% and keep the asset purchase program at 375bn. Also, ECB forecast to hold rates at 0.75% and hold Press Conference afterwards.

3rd October

The Sterling (GBP) was weaker than the Euro and fell to back to day lows unwinding any rally during the day. Investors have changed their mood on the GBP/USD last week and we seem to be in the process of consolidation and pullback. Looking ahead, EU September PMI Services forecast at 46 vs. 46. UK September PMI Services forecast at 53 vs. 53.7 previously.

2nd October

The Sterling (GBP) the GBP/USD underperformed again overnight with the market still in shock after the sharp selling on Friday and we didn’t manage to reclaim 1.6200 even with the mood improving. The source of the weakness is hard to pinpoint but traders point to weak crosses with EUR/GBP in particular overnight breaking back above 0.8000. Looking ahead, September UK Nationwide House Price forecast at 0.0% vs. 1.3% previously. Also EU PPI forecast at 0.5% vs. 0.4% previously.

1st October

The Sterling (GBP) the GBP/USD hit day highs at 1.6260 during the European session but was slammed lower in the US session. The heavy Euro and risk off stocks were the main catalyst for the Pound along with talk of month end flows being were largely GBP negative. Looking ahead, EU September PMI forecast at 46.0. Also UK September PMI forecast at 49.


  Go to The Sterling (GBP) Archive