FOREX GBP USD: Expected Movement in Sideways Channel. 21.10.2015

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In the review on the European session I expected a fall of the GBP/USD to 1.5325. It fell to 1.5434 and only today reached 1.5326. A sideways channel has formed. Taking into account that the ECB is to convene tomorrow and Mark Carney will speak today, I’ve gone for a fall of the pound to the lower limit of the channel at 1.5414 and then a return to 1.5475. Be prepared for the GBPUSD going lower than 1.5414.

FOREX GBP USD: Pound Could Leave Equilibria at 13:00 EET 19.10.2015

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Monday’s euro/pound cross is lending support to the UK pound, so instead of falling, the rate has headed north to 1.5496. The price is now by the LB. I don’t have a forecast for today because the BoE’s Mark Carney is set to mix things up. His speech is due to be given at 13:00 EET. If he mentions monetary policy, the pound will swing.

Short-term Trading Idea FX EUR/USD – Bear Speculation: Bear Takeover

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Trading opportunities for currency pair: ECB representative Ewald Nowotny pushed the eurobulls into closing long positions. It’s highly likely that before the ECB’s Thursday meeting, we’ll see the downward movement on the euro resuming. I’ve picked out two price levels: 1.1250 and 1.1086 (by middle of November), with 1.0290 over the medium term.

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