GBP Trading Outlook Archive

The Sterling (GBP) broke through 1.6000 and the market was extremely negative before support was found and the Euro lifted Cable back above the key level. The outlook has turned negative for the Pound with the Bank of England now seen falling further behind the… Read more

The Sterling (GBP) was the weakest currency in the market under pressure before the general USD strength on its own Bank of England meeting minutes. The vote came in 7-2 as expected but support for further expansion of the asset purchase program gave bears ammunition… Read more

The Sterling (GBP) stumbled along with some downside seen on general strike fears. The government announced over the weekend that the working age will be increased to receive a pension in an effort to save billions in future payouts. A strong bounce into the close… Read more

The Sterling (GBP) tested 1.6200 on the back of the Euro strength but sentiment is still very mixed towards the pound given the recent run of weak data and the chance of massive protests to government austerity measures. Overall the GBP/USD traded with a low… Read more

The Sterling (GBP) was under heavy pressure on risk aversion and weak May Jobs data. UK May Claimant Count at +19.6k vs. 7k expected. EUR/GBP broke lower and this did provide support for Cable which found a base under 1.6200. Overall the GBP/USD traded with… Read more

The Sterling (GBP) was unable to rally past the key resistance area at 1.6460-1.6500 even after stronger than rumored CPI numbers for May at 4.5% y/y. The pullback began on EUR/GBP buying and Cable slipped below 1.6400 to fall even lower in late US trade…. Read more

The Sterling (GBP) was well supported not just on EUR/GBP selling but on broad support for the Pound having a rare positive day. Some Support was seen on comments from BOE Weale that a preemptive rate hike now would help the central bank achieve inflation… Read more

The Sterling (GBP) was under pressure in the risk off climate but did well against the Euro with some rare gains against the single currency. EUR/GBP reversed from 0.8900 to fall back to lower 0.8800 level and could fall back further if the Greece fears… Read more

The Sterling (GBP) was able to regain ground against the Euro but was under pressure against the resurgent Dollar. Cable found support at 1.6360 after first testing 1.6470. The Bank of England held at 0.5% as widely forecast. Overall the GBP/USD traded with a low… Read more

The Sterling (GBP) was able to rebound from weakness in Europe to gain against the USD and EURO during the US session. A lot of talk from rating agencies was the main catalyst for the sharp fall at the start of the European session but… Read more