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GBP/USD Weekly Fundamental Analysis, May 11 – 15, 2015 – Forecast

Weekly Analysis and Recommendation (USD Forecast 2015): 

The GBP/USD gained 212 points after the conclusion of the election as traders celebrated the surprise result with David Cameron remaining Prime Minister with the Conservatives receiving enough votes not to have to form a coalition.  The pound is trading at 1.5456. Sterling was last up 1.35 percent against the dollar at $1.5450, not far from a more than 10-week high against the greenback of $1.5522 after Prime Minister David Cameron won an election victory in Britain.

Sterling was the biggest gainer among major currencies on Friday, hitting its highest in over two months against the dollar, on relief that the Conservative Party secured a surprise outright win in Britain’s election.

The dollar, though, gained against other major currencies like the euro and the yen as investors awaited the key U.S. jobs report later in the day. With less than a dozen seats to be declared in the 650-member lower house of parliament, Prime Minister David Cameron’s Conservative Party, seen as market-friendly, was on track to win 329 seats, a majority that will allow it to govern for another five years on its own.

The straight majority was a surprise to many investors who, given pollsters’ predictions of a “hung parliament”, had factored in weeks of haggling over who would form the next government by buying options and hedging their exposure.

Also for technically, GBP/USD is close to a resistance level of 1.5550. Over this level, GBP/USD will get to rise more with much power. Forex Traders should watch this level carefully.

ForexTraq provides in-depth analysis for each currency and commodity we review in forex trading. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our weekly reports and we provide daily updates and outlooks.

Historical: From 2011 to Present

Highest: 1.6618 USD on Aug 19, 2011

Average: 1.5764 USD over this period

Lowest: 1.4832 USD on Mar 12, 2013

GBPUSD(60 minutes)20150509053450

Major Economic Events for the week that you should be monitoring in forex trading for gbp/usd:

MONDAY, MAY 11

UK

GBP

BoE Asset Purchase Facility

£375

£375

UK

GBP

BoE Interest Rate Decision

0.5%

0.5%

TUESDAY, MAY 12

UK

GBP

NIESR GDP Estimate (3M) (Apr)

0.6%

WEDNESDAY, MAY 13

DE

EUR

Gross Domestic Product (QoQ) (Q1)

0.7%

EMU

EUR

Gross Domestic Product (YoY) (Q1)

0.9%

UK

GBP

BOE’s Governor Carney speech

UK

GBP

Bank of England Quarterly Inflation Report

EMU

EUR

ECB Monetary Policy Meeting Accounts

US

USD

Retail Sales ex Autos (MoM) (Apr)

0.4%

US

USD

Retail Sales (MoM) (Apr)

0.9%

FRIDAY, MAY 15

JP

JPY

Bank of Japan Governor Kuroda Speech

Government Bond Auctions

Date Time Country

May 12 09:15 Norway Holds bond auction

May 13 09:10 Italy Auctions BTPs/CCTeus

May 13 09:30 Germany Eur 3bn Feb 2025 Bund

May 13 14:30 Sweden Details bond auction on 20 May

May 14 09:30 UK Auctions 2% 2020 Conventional Gilt

GBP/USD Forecast 2015 for May, also check out these articles for gbp/usd chart and technical analysis

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