November 12 2013

In the trading room today: Does the GBP Bearish Breakout Spell More Weakness? Following the GBP drop below an important support level in today’s trading session, we explore the pound sterling’s outlook ahead of the Bank of England Inflation Report and ponder if the technical backdrop for the GBP spells further weakness to come, we analyze the bearish breakout in the GBP/USD currency pair, we continue to monitor the price correction in the EUR/USD pair, we note the move toward 100 of the USD vs JPY, we highlight the market’s reaction to the U.K. CPI and House Price Index, we discuss new forecasts from Goldman Sachs and HSBC, and prepare for the trading session ahead.