Both Swiss and US economies lack fundamentals today which suggests that the pair’s movement are going to be within narrow range, where the general direction will probably be to the upside after the recent improvement in US data and announcement by the Fed that they may raise interest rate.
Later in the week, strong movements in the pair are expected to take place with the release of important data from the United States that includes inflation, jobless claims and manufacturing as well as other important data.
GBP/USD Daily Outlook for April 11, 2011
April 11, 2011 currency daily forecast for the GBP/USD pair using graphs and indicators.
Amid the absence of economic data from both UK and US today, the pair’s movement is predicted to be calm, where the general direction remains to the downside due to the bleak outlook for the British economy after the slowdown in growth and rise in inflation amidst holding monetary stance unchanged by the BoE.
Later in the week, important data are expected to have a great impact on the pair’s trading which includes CPI and unemployment from the UK and inflation, jobless claims and manufacturing data from the United States.
Originally posted here
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