GBP/USD forecast - page 37

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GBP: Least Vulnerable Among Its Peers Vs USD; Moderate Appreciation To Continue


A period of relatively little economic data and elevated European political risks will likely offer a chance for moderate sterling appreciation versus the EUR, in our view. Sterling’s undervaluation (based on our BEER model and other indicator) and the UK’s relative immunity to the Politics of Rage in continental Europe should also contribute to modest EURGBP depreciation.

We no longer expect additional BoE easing. While this is already priced by the market, it confirms our view that BoE policy will not be a source of GBP weakness in the coming quarters. At the December meeting, the MPC acknowledged that recent developments (including modest GBP appreciation in NEER terms) made a marginally lower path for inflation more likely, alleviating some pressure to act in the short term. Furthermore, there has been a tendency for US and UK short-term rates to display a positive correlation, leaving the GBP among the least vulnerable of its peers to further USD strength, in our view.

On the data front, the final release of Q3 GDP (Friday) should confirm the preliminary print (previous: 0.5%; consensus: 0.5%) and we do not expect it to be particularly market moving for the GBP.

source

 
The British pound recorded a moderate decline during yesterday's session after trading in a relatively narrow range. GBP/USD slid 13 pips to 1.2352, reaching extreme values respectively at 1.2390 and 1.2324. The price continues to consolidate around the support at 1.2350, but remained under downward moving averages and RSI on negative territory, implying additional losses.
 
I hope also if this pair will continue bearish, because I am also still hold my sell position already several day opened

but using small lot size only with long target
 
The British pound fell against the dollar on Friday. By the end of the American session GBP/USD is trading at 1.2277, shedding 0.06%. I believe that the support is now located at the level of 1.2229, the low of today's trading, and resistance is likely at the level of 1.2504 - Monday's high.
 
Friday market on last time before market closed pair gbpusd move rebound after on hourly before occured bearish pattern but eventually move back to first resistance level
 
Still nowhere to go.
 
The pair is quite bearish despite the holidays. It might even move towards 1.2160 - 1.2150 in the next few days.
 
The pair continues moving to the downside indeed and it will soon test the support at 1.2220. It would be unsurprising if it breaks below that level too.
 

British Pound To US Dollar (GBP USD) Exchange Rate To Start 2017 On A Low?


The GBP to USD exchange rate shed further value as safe-haven demand remained high towards the end of the 2016.

GBP/USD looks set to finish 2016 on a low after ongoing Brexit concerns weigh on sterling.

After the more hawkish tone of the Federal Reserve’s December policy meeting the US Dollar (USD) remained on a bullish run across the board, fuelled by expectations of multiple interest rate hikes in 2017.

While November’s personal consumption expenditure report fell short of forecast, failing to show a further uptick in inflationary pressure, this was not enough to knock the wind out of the US Dollar’s sails.

With investors still concerned by the possibility of the UK losing its privileged level of access to the single market confidence in Sterling was generally limited, leaving the Pound US Dollar (GBP USD) exchange rate on a weaker footing.

 
GBP/USD bounced off 1.2200 but now it's moving to the downside and it will likely test that level again. Whether or not it will break below that support before 2017 remains to be seen.
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