From Our Foreign Exchange Blog

Latest:

POUND STERLING / AUSTRALIAN DOLLAR EXCHANGE RATE: (GBP-AUD) CONTINUES TO BE SOLD-OFF

POUND / US DOLLAR EXCHANGE RATE: GBP-USD STARTS TO EDGE HIGHER, IS MARCH SLUMP OVER?

POUND EURO EXCHANGE RATE: GPB-EUR MOVES ABOVE 1.2 AGAIN

POUND RATE TODAY (GBP): BRITISH POUND EXCHANGE RATE COMPLEX FINDS A LITTLE LOVE

DOLLAR RATE TODAY: USD EXCHANGE RATES COME UNDER EARLY PRESSURE ON WEDNESDAY

EURO RATES TODAY: EURO EXCHANGE RATE COMPLEX REMAINS UNDER SELLING PRESSURE

Monday:

EXCHANGE RATES TODAY: BRITISH POUND (GBP) IN INFLATION DATA BOOST, UP VS USD, EUR

POUND STERLING (GBP) VS AUS DOLLAR EXCHANGE RATE IN FRESH LOSSES ON TUESDAY

EURO EXCHANGE RATE TODAY: EUR UP VS GBP BUT DOWN VS USD AND AUD AS GERMAN IFO DISAPPOINTS

CANADIAN DOLLAR / POUND STERLING EXCHANGE RATE: CAD REMAINS RESILIENT TO GBP ADVANCES

POUND TO EURO SLUMPS TOWARDS 1.19, GERMAN IFO DATA + POSITIVE DATA SURPRISE FROM FRANCE HELPS

Friday:

Euro forecast for next week: EUR-USD to find support and trade in resilient fashion

US dollar forecast for next week, Downside bias may emerge for EUR-USD

Pound exchange rate forecast next week: British Pound in oversold territory

Canadian Dollar Rallies, Recovers from a Four and a Half-Year Low Against the US Dollar

Why is the Australian dollar so strong today? Pound to Aus Dollar Sinks on Friday

The Pound to Euro Exchange Rate is Lower on Friday: Why?

Pound to Dollar exchange rate: GBP-USD should remain under pressure as traders favour the greenback

Pound Sterling vs Canadian Dollar (GBP to CAD): Key Figures Due Out of Canada Today

Thursday:

Euro Pound Exchange Rate Slumps as Sterling Tracks US Dollar Higher

EURO EXCHANGE RATE TODAY: EUR/USD FALLS YET FURTHER AS MARKETS TURN SENSITIVE TO US DATA

CANADIAN DOLLAR TO USD TODAY: UNCERTAIN INVESTORS NOT YET READY TO SELL CAD

Technical Exchange Rate Forecasts: EUR, GBP and USD outlook

Concerning the euro's outlook, we note UBS are bullish in the euro dollar: "Setback from significant resistance at 1.3140/72 suggests there is scope fore consolidation. The important support zone lies at 1.2973/49."

William Moore at RBS notes, "The resistance level as indicated adjacent has been broken this week and this leads me to continue to believe that the markets in general will continue to squeeze into year end.

"The stock market too looks positive in the short term and this seasonality issue of a positive session for stocks between thanksgivingand new year looks to be prevalent."

Pound dollar exchange rate forecasts

The pound to US dollar exchange rate is 0.11 pct higher at 1.6116.

Concerning the pair's technical forecasts, Moore sees "very little conviction in the retracements and Ichimoku cloud short term or even the run in to the end of the year; I would say that from the longer term perspective the ceiling at 1.6306 will not be broken and if the market were to trickle towards there over the next couple of weeks it’s a better entry level for short positions retaining the downside targets at 1.5600 and 1.5300."

UBS analyst Geoffrey Yu sees potential for more upside: "There is potential for more upside and watch for a test of resistance at 1.6175 ahead of 1.6217. Support lies at 1.6016."

Euro pound exchange rate forecasts

Again, Yu is bullish on the euro: "The risk is for extension of the recovery and next major resistance is at 0.8169. Support lies at 0.8076/54."

Moore also suggests we will see a grind higher in EUR/GBP:

"So the market continues to grind higher in the weekly charts but it is important to mention here that topside momentum is dwindling and it’s beginning to dwindle as we approach the short term ceiling at 0.8156/62.

"This is lining up for a great trade next week of fresh short positions with a slightly longer term time frame.

"The stop would be above the 0.8162 level on a weekly close basis and the target down at 0.7757. The message for today and tomorrow is hold off and evaluate tomorrow’s close."

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