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The GBP/USD touched the bottom

Euro


The GBP/USD touched the bottom


The euro fell by 0.05 percent to 1.2919. The Central European Bank Vice-President Vitor Constancio said the central bank would prefer not to spend billions for buying the government bonds or "quantitative easing", but do not exclude this possibility.


Trading recommendations


We advise to long with the first target 1.3100. When the pair consolidates below the first target, we can start a deal to the level of 1.3250.


Pound


The GBP/USD touched the bottom


The pound rose to the week high 1.6280 after the falling to the 10-month low on Wednesday. According to the recent survey, there are more Scottish independence opponents than supporters before the referendum on 18 September.


Trading recommendations


We advise to long with the first target 1.6551. When the pair consolidates below the first target, we can open deals to the level of 1.6778.


Yen


The GBP/USD touched the bottom


The dollar updated the six-year high against the yen as investors believe that the Fed will hint at the earlier interest rates rise at the coming meeting.


The BoJ head Kuroda said that the exchange rate varies were depended on the different factors: it was desirable that the currency reflected the economy foundation and the yen reflected fundamentals. Also the economy had been decreased in the second quarter due to the sales tax increase, but it would be important to observe whether the economy recovered in the third quarter and further. Kuroda sees the need to change central bank monetary policy.


Trading recommendations


We advise to short with the first target 107.42. When the pair consolidates below the first target, we can open deals to the level of 107.82.

Ruban Sergey
Analyst of «FreshForex» company
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