Weekly review GBP/USD - 11 October 2009

Trade currency pair GBP / USD which has been going on this week (October 5 to 10) shows the weakening of sterling against the U.S. Dollar. After opening in the range of 1.5930 in early trading week, as a result of the closure of Sterling was trading down around -86 points, or about -0.54% against the U.S. dollar and closed at 1.5844 range.

Sterling weakened this tendency is thought to be the impact of British concerns that the economy was still too weak. So that monetary easing is required either by the suspension of ZIRP (zero interest rate policy) and also the asset purchase program, even though the threat of rising inflation.

GBP/USD Signal Profit

I want to suggests that the pressure on sterling is expected to find support 1.5800an area. Technical possibility of defensive patterns of pair GBP / USD is greater if the support area can not be penetrated.

Letter BOE Inflation is estimated to provide a significant effect of pair GBP / USD at the next week. As for the trade in the next week (October 12 to 17), normal range trading GBP / USD per week is expected to have a support level at 1.5739 and the range of resistance level at 1.6034 range.

The movement of the currency pair on October 12 to 17 is expected to be influenced by several economic data releases include are: BRC Retail Sales Monitor y / y, RICS House Price Balance, RPI y / y, BOE Inflation Letter, claimant Change Count, and Average Earnings Index 3m / y .

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