GBP / USD: analysis and forecast
Yesterday trading GBP / USD pair rose to the level of 1.5276. Lb
I began to strengthen against the US dollar after the release of statistics in
production of the United Kingdom. On the one hand, industrial production
decreased 0.2% on a monthly basis, rather than the projected increase of 0.3%, and
annualized rate rose by only 0.5%. On the other hand, the growth of
Manufacturing output in annual terms exceeded
Expert expectations and was 2.4% instead of 2.0%.
Positive added, published later score changes from GDP NIESR (National Institute
Economic and Social Research). According to one of the oldest
UK independent economic research institutions, GDP
UK is 0.7%, which is higher than the previous value of 0.5%. Estimation of GDP by
NIESR is a leading indicator of quarterly reports on GDP
the British government, as the report of the National Bureau of Statistics
UK only 3 weeks later published GDP and is one of the
factors that affect the decision on interest rates.
Today is not expected to be high volatility as investors
cautious in the run-up to the Bank of England quarterly report and the subsequent
speech of the head regulator Mark Carney, held on Thursday.
Support and resistance levels
Technical indicators give
opposite signals. Histogram MACD indicator decreases tending to zero, and generates a signal to buy.
Stochastic indicator lines intersected overbought and oriented
down, which gives us the opposite signal to sell.
Resistance levels: 1.5276 (maximum of yesterday), 1.5352 (maximum of 6
Feb), 1.5400 (psychologically important level), 1.5500 (important
Support levels: 1.5194
(At least yesterday), 1.5100 (psychologically important level), 1.4985
(Minimum of 3 February).
entering after the breakdown 1.5280 level to the first object to the second mark and on 1.5350
1.5400. Recommended sell below 1.5190 to 1.5100 and 1.5000 purposes.
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