Today UK has released its Q4 and annual GDP numbers, we saw UK's economy slowing in its last quarter of FY11-12. The data that came out was -0.3% QoQ basis and 0.5% YoY basis as compared to -0.2% QoQ and 0.7% YoY previously. We may see under-performance in GBP currency in forex market, so taking view of medium term we advice forex traders to take short positions on GBPUSD around 1.595 level for ... [Continue Reading]
GBPUSD: Bank of England Interest Rate Decision and Techniacal Analysis for 4 August 2011: Buy or Sell GBPUSD
Bank of England is going to announce its decision on interest rates this afternoon, We believe that Bank of England will keep the interest rates unchanged at 0.50%, as growth slowdown was seen in last few months and we are sure that the BoE will be pressured to keep the rates unchanged. Also the inflation there is not a big reason to worry about in UK region. So we will be placing our bets that ... [Continue Reading]
Forex: GBP/USD Trading Analysis for 4 July 2011: buy GBPUSD above 1.6055
GBP is highly supported by the BoE (Bank of England), due to its continuous buying GBP assets it keeps the GBP moving higher. Intraday trading analysis (tips) for GBP/USD 4 July 2011, we recommend, Enter long in GBPUSD above 1.6055 for target of 1.6125 and 1.6175 also place protective stop loss below 1.6005. Reason to trade GBPUSD long: GBPUSD has bounced from 1.5905 level and now we see a good ... [Continue Reading]
Forex: GBP/USD Trading Analysis for 1 June 2011: buy GBPUSD above 1.6395
Intraday trading analysis (tips) for GBP/USD 1 June 2011, we recommend, Enter long in GBPUSD above 1.6395 for target of 1.6465 and 1.6495 also place protective stop loss below 1.6365. Reason to trade GBPUSD short: The GBPUSD has seen bounced from 1.6055 level and now we see a good buying opportunity in this pair. Strong data from UK is responsible for this rebound. So this up move is likely to ... [Continue Reading]
Forex: GBP/USD Trading Analysis for 16 May 2011: Sell below 1.6205
Intraday trading analysis (tips) for GBP/USD 16 May 2011, we recommend, Enter short in GBP/USD below 1.6205 for target of 1.6155 and 1.6115 also place protective stop loss order above 1.6225. Reason to trade short: GBPUSD has seen reversal from 1.6725 level and now we see a good selling opportunity. Strong USD and weak GBP is responsible for this strong down trend. So this down move is likely to ... [Continue Reading]