gbp fundamentals
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- Friday, 16 October 2009 23:58:24 GMT British Pound Looks to 3Q GDP to Keep the Bullish Momentum
- Wednesday, 14 October 2009 20:52:17 GMT British Pound Mostly Lower as Job Losses Add Up, Average Earnings Fall
- Wednesday, 14 October 2009 02:51:52 GMT UK Unemployment Rate to Hit 22-Year High, Boost Dovish BOE Outlook
- Monday, 12 October 2009 23:21:45 GMT UK House Prices Rose for Second Month in September, Says RICS
- Monday, 12 October 2009 20:06:38 GMT British Pound Down Despite Improvement in UK Trade Deficit, Rise in Producer Prices
- Friday, 09 October 2009 21:34:18 GMT British Pound Forecast Depends on Consumer Price Index Report
- Friday, 09 October 2009 02:52:54 GMT UK Producer Prices to Shrink Again, Hinting at Dovish BOE Ahead
- Thursday, 08 October 2009 23:31:59 GMT British Pound Comforted by Bank of England's Steady Hand
- Thursday, 08 October 2009 02:09:27 GMT British Pound Threatened as Bank of England Plots Policy Shift
- Wednesday, 07 October 2009 21:16:17 GMT British Pound Up Ahead of Bank of England Announcement - Neutral Stance Likely
- Tuesday, 06 October 2009 18:16:28 GMT British Pound US Dollar Exchange Rate Forecast
- Monday, 05 October 2009 19:42:45 GMT British Pound Remains Under Pressure Despite Strong UK Data
- Friday, 02 October 2009 23:34:27 GMT British Pound: UK Data, BOE Decision Present Breakdown Potential
- Wednesday, 30 September 2009 20:09:25 GMT Euro, British Pound Edge Higher in Choppy Day of Trading
- Wednesday, 30 September 2009 00:28:52 GMT British Pound Wins a Long Over-Due Relief Rally
- Saturday, 26 September 2009 01:58:01 GMT British Pound Losing its Risk Appeal as Conditions Deteriorate
- Friday, 25 September 2009 21:53:37 GMT British Pound the Weakest of the Majors as GBPJPY Break Below Key Support
- Friday, 25 September 2009 00:14:11 GMT British Pound Tumbles as the Outlook for a Robust UK Recovery Fades
- Wednesday, 23 September 2009 19:54:24 GMT British Pound Gains as BOE Minutes Reflect Emerging Optimism on UK Economy
- Wednesday, 23 September 2009 02:21:33 GMT Bank of England Minutes - Economic Data Preview
The British pound was one of the weakest major currencies on Tuesday, gaining only against the ultra-weak US dollar and Canadian dollar, but unlike yesterday, economic data was actually quite a bit better than expected. The British Bankers Association (BBA) said that mortgage approvals jumped to 31,162 in May from 29,018, marking the second straight month of improvement and a 13-month high. The news suggests that the Bank of England’s reduction of their Bank Rate to a record low of 0.50 percent has had a positive impact. At the same time, though, UK mortgage lenders like Nationwide, Barclays, and government-owned Northern Rock have all said recently that they were raising fixed-rate mortgage rates, indicating that credit conditions remain restrictive as banks are reluctant to lend. From a technical perspective, traders should watch falling trendline resistance for GBP/USD at 1.6500/25 and while today’s GBP/JPY daily candle suggests the pair could bounce, the bounds of a head and shoulders formation remains in play, with the neckline at 155.00 and shoulders near 159.30/50.
Related Articles: British Pound Weekly Trading Forecast, GBP/JPY Head and Shoulders Formation
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