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Forex signals providers expect GBP to rise.

On Wednesday, October 28, 2009, as it was expected by the leading Forex signals developers, the recovery of the American currency continued. All the bucks’ rivals were suppressed, except the British pound, which continues to go upward. The fall down of quotes at Asian, European and, finally, American stock exchanges lead to very active Forex signals providers’ and investors’ buying USD. And then the news on New Home Sales from the USA, which showed positive dynamics, brought the rivals of USD down.

As the result, EUR/USD finished the trading day not far from the day’s minimum of 1.4690, USD/CHF rose up for 80 pips, but USD/JPY fell down for about 100 pips and set at to 90.60. At the same time GBP/USD went up a bit and by the end of the trading day was trading at about 1.6370.

The main attention of trades and Forex signals providers on Thursday, October 29, 2009, is to be drawn to the release of data on changes of the American GDP. According to the predictions and expectations, US GDP can grow for about 3.2% in comparison with the previous period. But the situation may turn out to be not so positive, as it’s expected to be. In that case we’ll observe another phase of USD recovery.

Due to that, EUR/USD is likely to continue falling down to 1.4600, USD/CHF may rise up to the level of about 1.0350. Some Forex signals analysts also expect, that GBP/USD might reach the level of 1.6420 and USD/JPY can turn out to fall down again to about 90.00.

by Jonathan Halprid
January 1, 1970
See Forex Analysis and Forex Forecasts for the previous days there:
October 28, 2009 Probable recovery
October 27, 2009 USD recovers?
October 26, 2009 USD may remain weak
October 23, 2009 USD may rise!
 
 
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