GBPUSD

By God’s Will, The current sentiment of the pair has become bearish after the recent terrorist attacks and the market waiting for an interest rate cut in the coming month as the recent data have shown a slow down in spending, cooling in the housing market prices, sluggish growth rates, cooling in the labor market and contraction in the manufacturing sector. On the other side the market is waiting for further tightening of the US monetary policy to be at a neutral stance has not been reached after 9 .25% rate hikes yet. The market has had clear announcement from Greenspan last week that the pace of tightening will continue underpinned by waves of bullish data from US in the recent month and these good data are expected to be continued in the coming days in favor of USD. There can be a rate under 1.70 next month if this current market sentiment can persist and this is highly expected.


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