GBP/USD forecast for the week of September 17, 2012, Technical Analysis
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The GBP/USD pair had a strong week over the last five sessions as we have cleared the 1.62 level. The 1.60 level has shown itself a supportive so far, and we think they going forward it should remain so. With the Federal Reserve cranking up the printing press, there can be no doubt that the US dollar will suffer as a result. At the same time, the Bank of England is holding its interest rates at current levels, and as such we think the interest-rate differential will still favor money flowing into the United Kingdom and stock markets. Certainly, the low yield environment in the bond markets will press traders to find higher yields in” riskier” assets. As long as that’s the case, this pair goes higher.
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Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.
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