The British pound attempts to grow
28.08.2014
The GBP/USD is trading slightly upward - if the external environment will remain neutral, from the "bottom" at 1.6600 the pair will begin to turn to recovery.
The sales of the pound have clearly dragged on. For a long time, the pound did not fall into the clutches of such bloodthirsty "bears", although the overall reason for selling the GBP/USD pair is quite logical and understandable - the Bank of England did not give any specifics to the markets regarding the time to tighten the monetary policy. It is only 3 months until the end of the year, it's not so much, and it would be good to see the guidelines. Maybe they will appear in the beginning of September: next week will be another meeting of the Bank of England, the results of which can have some statements.
It is worth noting that the British Chamber of Commerce improved the expectations for the UK for the current year. Now it is assumed that the economy will expand by 3.2% against the original estimates of the growth by 3.1%.
A certain emphasis is made on the revival of demand and consumption by households. Good signals are coming from the labour market with unemployment at 6.4% (at least for the last 6 years).
Thus, all the attention is on the comments of the monetary authorities. Fundamentally the pound is strong, it only needs an excuse.
RoboForex Analytical Department
The sales of the pound have clearly dragged on. For a long time, the pound did not fall into the clutches of such bloodthirsty "bears", although the overall reason for selling the GBP/USD pair is quite logical and understandable - the Bank of England did not give any specifics to the markets regarding the time to tighten the monetary policy. It is only 3 months until the end of the year, it's not so much, and it would be good to see the guidelines. Maybe they will appear in the beginning of September: next week will be another meeting of the Bank of England, the results of which can have some statements.
It is worth noting that the British Chamber of Commerce improved the expectations for the UK for the current year. Now it is assumed that the economy will expand by 3.2% against the original estimates of the growth by 3.1%.
A certain emphasis is made on the revival of demand and consumption by households. Good signals are coming from the labour market with unemployment at 6.4% (at least for the last 6 years).
Thus, all the attention is on the comments of the monetary authorities. Fundamentally the pound is strong, it only needs an excuse.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.