Selasa, 03 November 2009

Weekly Review Forex GBP/USD - October 26 to 31

. Selasa, 03 November 2009

Trade currency pair GBP / USD which has been going on this week (October 26 to 31) indicates the occurrence of pemguatan Sterling U.S. Dollar. After opening in the range of 1.6269 in early trading week, as a result of the closure of Sterling was trading up around 147 points or about 0.90% against the U.S. dollar and closed at 1.6416 range.

Sterling gains related to the improvement in some indicators of the real sector of the country. One of them is yingkat harag housing in the UK to record an increase, leading to hopes that the sector began to recover.

Sterling argued in general is still vulnerable to the U.S. dollar and likely unstable, associated with the plan of setting interest rates by the Bank of England and the release of data by the NIESR GDP estimates.

As for the trade in the next week (November 2 to 7), normal range trading GBP / USD per week is expected to have a support level at 1.6242 and the range of resistance level at 1.6596 range.

The movement of the currency pair is expected to be influenced by several economic data releases include the: Halifax HPI m / m, Manufacturing PMI, PMI Construction, Nationwide Consumer Confidence, Services PMI, Manufacturing Production m / m, the MPC Rate Statement, NIESR GDP Estimate, PPI Input m / mdan G20 Meetings.

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