GBP/USD Forecast September 10, 2012, Technical Analysis
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GBP/USD rose during the Friday session as the jobs number in the United States disappointed. With the anemic growth in the month of August, it appears that the Federal Reserve will have to embark on more monetary easing. With the new quantitative easing, this should continue to widen the gap in interest rate differential between these two currencies and more importantly, the countries bonds.
The Bank of England has recently suggested that they are very happy with monetary policy currently, and as such we should continue to see a positive yield in Britain over the United States. This should continue to drive this currency pair higher, and technically we have broken out of an ascending triangle that measured to the 1.63 level anyway. On pullbacks, we are buying this pair.
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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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