UBS raises forecast for the pound exchange rate vs dollar

UBS believes in pound vs dollar

In brief: UBS believes that the dollar will continue to fall against the pound. The British currency started the day with recovery.

UBS notes, that the pound will continue to rise against the dollar today. Pound / dollar rate rose 50 basis points from 1.5343 marks after stronger GDP data for the second quarter than expected. As a result of significant sales, which began with the growth of couples to new highs, the pound / dollar rolled back to 1.5375.

Ofer located on the approach to 1.5400, stops above 1.5410. , Supporting the level of 1.5350. Current exchange rate GBP / USD 1.5393. As a result of decline of the euro / pound may again test the lows of 0.8406, as the pound demonstrates growth against a background of positive GDP data. Bida remain on the way to 0.8400 until 0.8390. Resistance will be provided in 0.8435/40, then 0.8450. At the moment pair is trading at around 0.8410.

Ukrainian Globalist
2010-07-23 09:04, Currency news.

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