Forex news. Barclays Capital analytics expressed an opinion that the expecting the session of the Monetary Policy Committee (МРС) of the Bank of England provokes a considerable number of the British pound short-term positions. The bank believes that if on Thursday МРС does not claim that the quantitative easing program is extended, investors will probably start closing their shorts.
Despite controversial statistical data from Foggy Albion, which was issued on Wednesday, the majority of MPC members will probably postpone taking any measures concerning quantitative easing till November. The controversial data claimed that GDP growth during the 2nd quarter of 2011 has not met the expectations, whereas services sector has demonstrated recovery during September.
However, long-term predictions of Barclays Capital analytics concerning GBPUSD pair remain pessimistic: the pair is expected to decline to the point of 1.5100 by the end of the year.
The rate of British pound still remains within long-term bear wave С(С). As claimed by the experts of the Department of Мasterforex-V Trading System, bear FZR will start mid-term wave С(С) at the point of 1.5339; minimal point 1.5326, as well as Fibonacci levels 1.5251, 1.5196, 1.5188/81, 1.5107, and 1.5021 will mostly form resistance. GBPUSD pair decline will finish only when a reversal wave A is formed and passes sloping channel MF and pivot MF at the point of 1.5657.
