Every week, we are publishing the Experts Forecast Currencies Poll. A pool of selected traders and analysts gives us their targets for the major currencies for the week, month and quarter to come. They also indicate the whole trend in these periods.
The report includes a visual table for each pair, as well as the comments that the experts might have added to their analysis.
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| GBPUSD | 1 Week | 1 Month | 1 Quarter | 1 Week | 1 Month | 1 Quarter | ||
|---|---|---|---|---|---|---|---|---|
| Levels | Trend | |||||||
| ©FXstreet.com | Fri, Sep 07 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.5850 | 1.5700 | 1.5400 | Bearish | Bearish | Bearish | ||
| Anna Coulling | 1.6047 | 1.6243 | 1.5996 | Sideways | Bullish | Sideways | ||
| Claudiu Cazacu | 1.6000 | 1.5970 | 1.5660 | Sideways | Sideways | Bearish | ||
| Danske Research Team | - | - | 1.5700 | - | - | Bearish | ||
| Esteban Mora | 1.6000 | 1.6300 | 1.6500 | Sideways | Bullish | Bullish | ||
| GFM Research Private Limited | 1.5720 | 1.5950 | 1.5950 | Bearish | Bearish | Sideways | ||
| ICN.com analysis team | 1.5725 | 1.5630 | 1.5510 | Bearish | Bearish | Bearish | ||
| Ilian Yotov | 1.6000 | 1.5750 | 1.5500 | Sideways | Bearish | Bearish | ||
| J.P. Morgan Global FX Strategy | - | 1.5600 | 1.5800 | - | Bearish | Bearish | ||
| Joshua Martinez | 1.6000 | 1.6200 | 1.5900 | Sideways | Bullish | Sideways | ||
| Mauricio Carrillo | 1.6100 | 1.6000 | 1.5700 | Bullish | Sideways | Bearish | ||
| NAB Global Markets Research | - | 1.5500 | 1.6300 | - | Bearish | Bullish | ||
| Rabobank Financial Markets Research Team | - | 1.5500 | 1.5700 | - | Bearish | Bearish | ||
| RBC Economic Research Team | - | 1.5400 | 1.5500 | - | Bearish | Bearish | ||
| RBS Team | - | 1.5600 | 1.5400 | - | Bearish | Bearish | ||
| Ross Yamashita | 1.6100 | 1.5800 | 1.5500 | Bullish | Bearish | Bearish | ||
| Scotiabank FX Strategy Team | - | 1.5500 | 1.5900 | - | Bearish | Sideways | ||
| TD Securities Research Team | - | 1.5400 | 1.5100 | - | Bearish | Bearish | ||
| UBS FX Research Team | - | 1.5800 | 1.5500 | - | Bearish | Bearish | ||
| Valeria Bednarik | 1.6200 | 1.6000 | 1.5770 | Bullish | Sideways | Bearish | ||
| Yohay Elam | 1.5900 | 1.6000 | 1.5700 | Bearish | Sideways | Bearish | ||
| Average | 1.5970 | 1.5792 | 1.5714 | Bearish | Bearish | Bearish | ||
The risk limit for the bearish outlook resides at 1.6055 where 76.4% Fibonacciof the wave from 1.6300 to 1.5265 exists
With the Bank of England sitting on the sidelines and not announcing additional easing measures, the GBP/USD pair looks positioned for a test of the $1.60 area.
The daily time frame is bouncing between support and resistance.
Cable's rally could be limited without QE3. Assuming the situation in Europe geniuinely improves, also some of the European safe haven flows could reverse.
Risk Disclosure
This forecast has just an informative meaning and cannot be treated as the guide to action, signal, recommendation or an offer to carry out certain trading operation. The experts of this poll expresses personal opinions and will not assume any responsibility whatsoever for the actions of the reader.We always aim for maximum accuracy, and FXstreet.com cannot be held responsible for inaccurate information or typos.
Cable continues with its bullish tone following the breakout from the pennant pattern of mid August which signalled the current move higher. With little resistance ahead we can expect to see a move beyond 1.6, followed by a test of the 1.63 high of April in due course.