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, Feb 08 2013, 17:00 GMT | |||||||
| A. Narczewski | 1.5650 | 1.5800 | 1.5500 | Bearish | Sideways | Bearish | ||
| Alberto Muñoz,PhD | 1.5850 | 1.5500 | 1.5330 | Bullish | Bearish | Bearish | ||
| Anna Coulling | 1.5898 | 1.6104 | 1.5972 | Bullish | Bullish | Bullish | ||
| ANZ FX Strategy Team | - | - | 1.6300 | - | - | Bullish | ||
| BoA FX, Rates and Commodities Team | - | - | 1.5700 | - | - | Sideways | ||
| Capital Economics Research Team | - | - | 1.6000 | - | - | Bullish | ||
| Claudiu Cazacu | 1.5820 | 1.5900 | 1.5900 | Sideways | Bullish | Bullish | ||
| Danske Research Team | - | 1.6200 | 1.6100 | - | Bullish | Bullish | ||
| Dr. S. Sivaraman | 1.6266 | 1.6587 | 1.7032 | Bullish | Bullish | Bullish | ||
| Goldman Sachs Global Investment Research | - | - | 1.6500 | - | - | Bullish | ||
| Gonçalo Moreira, CMT | 1.5750 | 1.5700 | 1.5900 | Sideways | Bearish | Bullish | ||
| Gus Farrow | 1.5900 | 1.6000 | - | Bullish | Bullish | - | ||
| HSBC Global Research Team | - | - | 1.5850 | - | - | Sideways | ||
| Ilian Yotov | 1.5500 | 1.6000 | 1.6000 | Bearish | Bullish | Bullish | ||
| ING Global Economics Team | - | - | 1.6200 | - | - | Bullish | ||
| J.P. Morgan Global FX Strategy | - | - | 1.5900 | - | - | Bullish | ||
| Malik Khan | 1.5767 | 1.5700 | 1.5411 | Sideways | Bearish | Bearish | ||
| Mauricio Carrillo | 1.5900 | 1.6000 | 1.6000 | Bullish | Bullish | Bullish | ||
| NAB Global Markets Research | - | - | 1.5700 | - | - | Sideways | ||
| National Bank of Canada Eco. & Strat. Team | - | - | 1.5600 | - | - | Bearish | ||
| Rabobank Financial Markets Research Team | - | 1.5800 | 1.5700 | - | Sideways | Sideways | ||
| RBS Team | - | - | 1.5600 | - | - | Bearish | ||
| Ross Yamashita | 1.5630 | 1.5800 | 1.6100 | Bearish | Sideways | Bullish | ||
| Scotiabank FX Strategy Team | - | - | 1.5900 | - | - | Bullish | ||
| TD Securities Research Team | - | - | 1.5700 | - | - | Sideways | ||
| UBS FX Research Team | - | 1.5900 | 1.5300 | - | Bullish | Bearish | ||
| UniCredit Research | - | - | 1.5500 | - | - | Bearish | ||
| Víctor Rodríguez del Río | 1.5900 | 1.6030 | 1.5400 | Bullish | Bullish | Bearish | ||
| Wells Fargo Research Team | - | - | 1.6000 | - | - | Bullish | ||
| Westpac Institutional Bank Team | - | 1.5900 | - | - | Bullish | - | ||
| Yohay Elam | 1.5700 | 1.5600 | 1.5300 | Bearish | Bearish | Bearish | ||
| Average | 1.5810 | 1.5913 | 1.5841 | Sideways | Bullish | Sideways | ||
downward extended stop hunt is made to rise big in coming days.
The pound has seen pressure rising recently and could head lower if UK data disappoints and the market continues to price expectations of more QE by the Bank of England.
The British Pound remains weak and it is very likely that after correcting for the month of February. we see the pair trading in the 1.5400 area.
Cable seems to be supported at 1.56 for the time being. but it certainly has more room to fall later on.
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.
Price action in cable can best be described as one where the market took stock as the pair finally found a base in the 1.5632 area before higher at the end of the week. The question now is whether this bounce for cable is simply a short term pullback or a change in sentiment. The key technical level is now in place at 1.5875 and any move beyond here should see cable strengthen further.