GBP Trading Outlook


 
20.5.2013-20.5.2013 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

23th December

The Sterling (GBP) rallied in Europe on the back of upgrades to Q3 GDP to 0.6% vs. 0.5% previously. Resistance was found at 1.5770 and reversed back to opening levels near 1.5680. The outlook is mixed but improving as risk aversion dies down. We are still quite low on GBP/USD historically as the Pound has underperformed in the last few years due to a weak UK economy and QE from the bank of England.

22th December

The Sterling (GBP) fell in the US session but at a slower pace than the Euro which pushed EUR/GBP to fresh lows near 08300. The outlook on the cross is still bearish and threatens to slip back further towards 0.8000. EUR/GBP has spent most of the past few decades below 0.8000. The MPC minutes were 0-9-0 as expected but they did discuss the potential for more QE next year. Looking ahead, Q3 GDP forecast at 0.5%.

21th December

The Sterling (GBP) outperformed in a very positive trading session breaking to test 1.5700 before consolidating at 1.5660. EUR/GBP fell even further and was an example of how strong the Pound move was given the positive Euro news. December CBI Distributive Trades surged to 9 vs. -19 previously a seven month high. Looking ahead, MPC minutes from December meeting forecast at 0-9-0.

20th December

The Sterling (GBP) like the Euro the GBP/USD was very contained with risk aversion in Asia reversed in Europe. EUR/GPB is pivoting the 0.8400 waiting for the next headline out of the Eurozone. December House Prices dropped -2.7% m/m. Looking ahead, December Distributive Trades forecast at -13 vs. -19 previously.

19th December

The Sterling (GBP) kept to a 50 pip trading range for a very stable trading day. EUR/GBP selling is continuing to support with the important cross now broken out of multi month range to the downside. GBP/USD will track the EUR/USD broadly however and the potential for more downside is still very evident.


  Go to The Sterling (GBP) Archive