Exchange Rate Forecasts

The Pound found solid buying support above the pivotal $1.60 level against the Dollar yesterday and was able to secure a consistently stronger tone through the course of the day. The UK currency also edged higher versus the Euro, rising above 1.1630 in New York, snapping a five-day losing streak, after the Bank of England [...]

GBPEUR/GBPUSD The Pound dropped below $1.6000 against the Dollar for the first time since June yesterday, while the UK currency also lost further ground versus the Euro, after house prices unexpectedly fell in June and former Bank of England policy maker Stephen Nickell said that the property market may be slow to recover. The Halifax [...]

GBPEUR/GBPUSD Sterling continued to decline against the Euro and USD during trading yesterday, deteriorating once again below 1.1575 against the Euro and testing key support at $1.6000 against the dollar after data released for U.K industrial production came in weaker than previously forecasted. The report confirmed that output had fallen by 0.6% – confirming that [...]

GBPEUR/GBPUSD Sterling continued to trade underneath $1.6400 against the USD throughout trading yesterday, however managed to trade back above the key level of 1.1575 against the Euro during the afternoon session. Support at $1.6000 for GBP/USD seems to be holding well, however a break below this key support level would increase the chances of the [...]

GBPEUR/GBPUSD After falling through key support of $1.6400 towards the end of trading last week, Sterling has deteriorated even further this morning, challenging key support levels at 1.6000 against the USD and 1.1575 against the Euro. Weaker than expected non-farm payroll data for the month of June released last week has ‘soured’ market optimism with [...]

GBPEUR/GBPUSD The Pound fell against through key support at $1.6400 against the Dollar yesterday, as gilts rose and stocks plunged, following reports that U.S employment increased speculation that the global recession won’t end any time soon. Bank of England policy maker Dales Miles also said that banks remain on “life support”. The UK currency also [...]

GBPEUR/GBPUSD The Pound extended its decline against the Dollar yesterday, falling a further 0.6% on the session, to a low of $1.6383. The UK currency fell through significant support levels at $1.6400 against the Dollar and 1.1630 versus the Euro, as global risk appetite disintectrated and stocks plunged worldwide. The Pound also fell back under [...]