GBP/USD - Pound Ticks Lower, UK Forecasts Lower Growth in - MarketPulseMarketPulse

The decision on where to set interest rates depends mostly on growth outlook and inflation. The primary objective of the central bank is to achieve price stability. High interest rates attract foreigners looking for the best "risk-free" return on their money, which can dramatically increases demand for the nation's currency. Euro Dollar In agreement with the negative technical outlook we talked about in the past two days, the Euro stopped at the first resistance in the report 1.

And after reaching 1. Short-term support is Fibonacci Short-term resistance is 1. If the negative outlook is to persist, the Euro should not break the most important resistance for the medium-term 1. In spite of that, the technical outlook became more negative, because we broke the rising channel that we have been monitoring lately. The most important support for the short-term is If it can maintain to do so, we expect a correction for the down move from But if it is broken, more of the drop is to be expected, first towards the important On the other hand, the most important resistance for the short-term is If broken, we expect to rise towards the important But if a surprise happens and we break it, the price would be on the way back to Forexpros offers the most definitive Forex portal on the web.

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