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.
Agree or disagree? Comments? Your own forecast? Post your thoughts in the Forecasts discussion group!
| GBPUSD | 1 Week | 1 Month | 1 Quarter | 1 Week | 1 Month | 1 Quarter | ||
|---|---|---|---|---|---|---|---|---|
| Levels | Trend | |||||||
| ©FXstreet.com | Fri, Sep 28 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.6100 | 1.6200 | 1.6400 | Bearish | Sideways | Bullish | ||
| Alberto Muñoz,PhD | 1.6300 | 1.6600 | 1.6900 | Bullish | Bullish | Bullish | ||
| Anna Coulling | 1.6118 | 1.6243 | 1.5996 | Bearish | Bullish | Bearish | ||
| ANZ FX Strategy Team | - | - | 1.6300 | - | - | Bullish | ||
| BoA FX, Rates and Commodities Team | - | - | 1.5800 | - | - | Bearish | ||
| Claudiu Cazacu | 1.6000 | 1.5980 | 1.6400 | Bearish | Bearish | Bullish | ||
| Esteban Mora | 1.6300 | 1.6400 | 1.6500 | Bullish | Bullish | Bullish | ||
| Gonçalo Moreira, CMT | 1.6350 | 1.6300 | 1.5500 | Bullish | Bullish | Bearish | ||
| ICN.com analysis team | 1.5975 | 1.5880 | 1.5265 | Bearish | Bearish | Bearish | ||
| Ilian Yotov | 1.6000 | 1.6000 | 1.5500 | Bearish | Bearish | Bearish | ||
| J.P. Morgan Global FX Strategy | - | - | 1.6200 | - | - | Sideways | ||
| Joshua Martinez | 1.6161 | 1.6161 | 1.6161 | Sideways | Sideways | Sideways | ||
| Mauricio Carrillo | 1.6260 | 1.6080 | 1.6000 | Bullish | Sideways | Bearish | ||
| NAB Global Markets Research | - | - | 1.6300 | - | - | Bullish | ||
| Rabobank Financial Markets Research Team | - | 1.6100 | 1.6200 | - | Sideways | Sideways | ||
| RBC Economic Research Team | - | - | 1.5400 | - | - | Bearish | ||
| RBS Team | - | - | 1.5400 | - | - | Bearish | ||
| Ross Yamashita | 1.6000 | 1.5600 | 1.5300 | Bearish | Bearish | Bearish | ||
| Scotiabank FX Strategy Team | - | - | 1.6200 | - | - | Sideways | ||
| TD Securities Research Team | - | - | 1.6000 | - | - | Bearish | ||
| UBS FX Research Team | - | 1.6200 | 1.5600 | - | Sideways | Bearish | ||
| Valeria Bednarik | 1.6120 | 1.6000 | 1.5770 | Bearish | Bearish | Bearish | ||
| Yohay Elam | 1.6200 | 1.6000 | 1.6300 | Bullish | Bearish | Bullish | ||
| Average | 1.6145 | 1.6116 | 1.5974 | Sideways | Sideways | Sideways | ||
A break below 1.6135 followed by 1.6075 is required to confirm the bearish predictions while taking out 1.6310 with a daily closing will trigger strong buying interests.
With the Bank of England willing to deploy more QE as early as their October meeting, the GBP/USD pair should correct some of its recent gains against the greenback.
The GBP/USD currency pair is showing the potential to begin a bearish movement, but movement has stalled and it may break bullish. I'll will be monitoring this currency pair throughout the week in an effort to gather more information.
The pound continues being supported by hopes for the end of the recession and flows from the continent.
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 appears to be struggling to break the 1.63 area where we have two pivot highs in place and a sharp sell off today. However, the medium term outlook for cable remains bullish and the current sideways price action is merely a short term correction at this level.