FOREX GBP USD: Pound/Dollar: Waiting for BoE’s Minutes. 10 Decembre 2015.

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I was ready for the pound to strengthen yesterday, but not for as much as it did. There was no news which would have pushed the dollar down. The market is continuing to close long positions on the dollar and has been doing so since the ECB didn’t go as far with their monetary policy plans as the market expected.

FOREX GBP USD: Pound/Dollar: Expected Renewal to 1.5055. 9 Decembre 2015.

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Instead of a flat at 1.5050, the sellers sent the GBP rate to 1.4956. The pound ended up defenseless before the BoE meeting and due to the unexpected fall in production in the manufacturing industry. The pound/dollar rate fell by 76% from a growth from 1.4894 to 1.5158. According to the daily formation, such a fall won’t be critical for the continuation of growth, but the likelihood of the pound’s rise above 1.5158 has dropped markedly.

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