Pound Sterling Forecast

Good afternoon all,

Please see below a report from our new head of coprporate trading Peter Hatch – An extremely knowledgable chap with years and years of experience in the industry – The report is a little more technical than our usual posts however I thought you may be interested to see it.

GBPUSD FORECAST

After having a fairly torrid time over the past few weeks GBP has finally found a bit of respite. The year low around the 1.5300 area is proving a tough nut to crack and has once again stopped GBP from falling into the abyss. Over the next few sessions there is a chance that recent GBP strength will continue but any moves towards or marginally above the 1.6000 area should be short-lived. With that in mind once this current round of positivity has elapsed we would look for GBP to once again head lower with the 1.5300 area likely to come under a more sustained attack in the coming months.

The information in this report is provided free of charge for information purposes only. It does not constitute advice on any matter. Www.poundsterlingforecast.com makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same. Accordingly, www.poundsterlingforecast.com  accepts no liability whatsoever arising out of the use of or access to this report.

 GBPEUR FORECAST

As you can see from the chart above the recent uptrend GBPEUR has been in since June has possibly been broken. The break of the 1.1450 support last week has potentially opened the door for GBP to have another run lower with the 1.1000 likely to come into focus as we move towards the end of the year. That said however the currency never moves in a straight line and any move lower is likely to be punctuated with intermittent rallies but any such rallies are likely struggle on approach to the 1.1600 area.

The information in this report is provided free of charge for information purposes only. It does not constitute advice on any matter. www.poundsterlingforecast.com makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same. Accordingly, www.poundsterlingforecast.com accepts no liability whatsoever arising out of the use of or access to this report.

Should your company have currency requirements and you wish to have someone deal with your risk management then please feel free to email him directly pfh@currencies.co.uk please keep these enquiries to larger turnovers of £100,000 of currency per year at a minimum.

If you have a personal requirement or smaller turnover then do feel free to contact me directly djw@currencies.co.uk I look forward to hearing from you.