GBP/USD Outlook – October 11 - 15

October 10, 2010 posted by Yohay
Filed under L $ British pound forecast | leave a comment

We expect a very busy week bathed in limelight in pound sterling traders, inflation and employment numbers. The Outlook is the United Kingdom event and update technical analysis GBP / USD.

GBP / USD chart support and resistance lines. Click Zoom in.

Rate decision, do not change, but apparently in the Member statement agree could not be. QE or rate a discussion heated rock hiking and currency within the Central Bank. Moves this week how do? first.  

Mervyn King talks: Sundays 11: 00 pm. Open market, at a Conference in the Panel of the Governor, BoE speak in Washington. Currency provides comment on heated discussions, exciting early start pounds. King after 1 during the week, note that there is more to move the market opportunity. RISC house price balance: may, 23: 00. This special indicator rise in house prices and the display area of the drop report region between the balance. To delete this index positive average month after many, - 9% two months ago, and plunged 32% last month. % Given the latest report by 3.6% drop prices in Halifax, this figure also another month - 34 to drop negative is expected. BRC retail sales monitor: Monday 11: 00 pm. This mini retail sales release, consumers feel useful. Shows, representing an important part of the retailer United Kingdom United Kingdom Retail Consortium, sales, monthly better than tabled between growth rate 1%. This time, a small rise in the estimates. Release is a little shadow in the figure above. Consumer price index: Tuesday 8: 30 pm. United Kingdom inflation 1-3 month return % target, slip was denied, the vow, has remained in rate hikes Andrew Sentance refueling 3 1 (annual) % at. We expect to keep this time it is at 3.1%. To mitigate the impacts of the heading number, and prospective can drop to CPI core 2.8% from 2.6% to keep in mind. Too small for sale price (RPI) from 4.7% from 4% drop in the exist. Trade balance: Tuesday 8: 30 pm. 8. 7 Billion pounds, best in years, expanded United Kingdom deficit. This will hurt pounds. This time: 80 billion expected smaller deficit! Note that temporary inflation figures and trade balance released shadow. Inflation report hearing: Tuesday 9: 30 pm. To change the time. Fresh inflation of approximately one hour numbers are released after some Mervyn King and his colleagues are Congress in is displayed. Inflation is the only one of the agenda topics. For an overview of the Finance Committee, economic, and tips about the future of monetary policy. Nationwide consumer confidence: Tuesday 11: 00 pm. Consumer survey of 1000 is the pound key indicators despite the late hour. After reaching a peak of 81 points, confident 56 points to 61 last month before fixing fell. To 64 points expected to check it again. Employment data: 20: 30. Improve United Kingdom employment market stall in 2 months past. Last month also number of unemployment – saw the rise of claim plaintiff number fee.  Small rise in another is scheduled for September. In the second figure is unemployment, for the month of August. Hope to remain first 4 months consecutive to 7.8% unchanged. The relevant average profit stands index, last month rose 1.5% 1.6% is expected. CB top index: Wednesday 9: 00 pm. Building this figure, most of the seven economic indicators have been previously released. To move a pound, even though it tends to be. Index, with only 0.2% last month, previous month slower than rose. To expect a similar rise. Paul-Fisher talks: Friday. In the middle of MPC members, the majority of members-he does not support QE rate hike too many of. MPC is divided and change in his opinion, pound, locked.

All times are GMT.

Technical analysis GBP / USD

False to break before later settled 1. 5820 line L / $ fallback and finally exiting 1. 5923 () is on mention 1.60 lines went in last week.

Critical resistance wire core 1.60 line remains-rise above this line was very simple. Find the line back above, compelling break 1.60 on resistance 1. 6080 in January to provide support.

More than 1 minutes... 6270 served as support for November, and is was also later in the opposite direction. So far, the last point is 1. 6450 – is high swing January.

Strengthened looking down performance after 1... 5820 role this week. August first, was the same role.

It is irrelevant, 1.57 support line. It is in August, tough resistance line was. Here is 1... 5530 capped pair in April, and as a resistance long ago not working.

Below 1. 5230, stubborn and was back in line 7, resistance. It is after 1... 5120 offers resistance of the first six months, later worked as a support for July.

I in the GBP / USD bearish.

Isn't it will help you pounds greater than substantial improvement in the employment and other currencies are. At this time, significant weakness in the green back supports. Have a better chance of seeing the pounds drop with Mervyn King public appearance this week.

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Tags: average profit index, BRC retail sales monitor, CB index, leading plaintiff number change is a technical analysis of the core consumer price index, consumer price index (CPI), and pound sterling / US dollar, inflation report hearings, nationwide consumer confidence, Paul Fisher RISC house price balance, RPI, trade balance, and unemployment.