European & US sessions forecast levels: 1.9445/1.9575
Trend Sessions: European â€“ Neutral/Downward
US â€“ Neutral/Downward
Market Focus: 4:30 AM Public Sector Net Borrowing, M4 Money Supply, MPC Meeting Minutes, 6:00 AM CBI Industrial Trends Orders.
Daily Strategy: Bank of England continue to support the pound that still keep the pound in good trading levels against the dollar. If Bank of England action like the Fed at the moment the pound would be trading at levels of 1.80 against the dollar. But slowly keeping in mind that in UK will continue with the interest rates politic to cut the interest rates the pound will continue to lose against the major currencies. The forecast in FS Team is trading of the pound at the levels below 1.90 in the coming month. For today is expecting neutral trading with testing the levels below 1.9450. It is not excepted movements up above 1.9545.