eToro – Forex Trading Forum

[zoe147]

Dollar managed to register a recovery against Euro and keep the long positive trend versus Sterling. However, the long consolidation against Yen has not yet ended.

Speculation for a rate cut from the Bank of England, as seen in 60% chances for a rate cut in UK rate futures, has pulled the Sterling down against Euro and Dollar.

What will be the final impact of the BoE decision?

A continuous downside in GBP/USD may serve as a final evidence that the past year’s increasing trend of the Sterling over Dollar has lost its momentum, and a falling trend of Sterling under Dollar is to be seen.