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Interest rates could rise ahead of BOE (Bank of England) decision.
By: Finotec - 26-05-2008
0votesNext Analysis: U.S. Dollar could recover as GBP lose its momentum.Britain's central bank must be ready to raise interest rates at the first clear sign of higher wage settlements and there is no room for rate cuts now, the International Monetary Fund said on Friday.
Fundamental
Britain's central bank must be ready to raise interest rates at the first clear sign of higher wage settlements and there is no room for rate cuts now, the International Monetary Fund said on Friday.
"We see no scope for further near-term monetary easing, absent assurances of continued wage moderation, fiscal policy that is tighter than planned, or signs that house price or credit developments are significantly curbing domestic demand," the IMF said in a report on the UK economy.Technical
The Sterling may continue the uptrend against the Japanese Yen; according to technical charts the market is in a bullish direction with confirmation of many indicators like RSI, which is in an uptrend, MACD breaks the signal line upwards, Bollinger gives us a bullish signal by closing the candle above the middle band.GBP/JPY (Daily Chart)
The primary tendency is in a downtrend but breaks the channel upper line.
GBP/JPY (4 Hour Chart)
The medium term is in an uptrend.
GBP/JPY (Hourly Chart)
The Minor trend bounced on Bollinger lower band.
Resistance
208.35
206.15Support
202.90
201.55Content Provided by:
Finotec
Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and no
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