GBP / USD: Outlook and Forecast
Current trend
Quotations pair GBP / USD continues to gradually grow stronger and longer
reached the highest level since December last year, in the mark of 1.5670.
On Tuesday, the pound was strong support in the form of a positive macroeconomic
Statistics from the UK. According to published data, industrial
production increased in March by 0.5%. GDP growth is forecast NIESR can
amounted to 0.4%.
Today, investors expect of my head of the Bank of England
Mark Carney, as well as the quarterly inflation report from the Bank of England. totals
details of these events could have a significant impact on the dynamics of the GBP / USD.
On the afternoon of April is expected to publish statistics on retail
US sales.
levels of support and
resistance
On the four-hour chart technical indicators give
multidirectional signals. The MACD histogram is in the positive zone,
but its volume is gradually reduced, indicating a decrease in the purchasing
activity and the transition rate in the correction phase after a long
growth. Bollinger Bands are narrowing, indicating a continuation of the ascending
trends.
Resistance levels: 1.5704, 1.5755, 1.5800.
Support levels: 1.5630, 1.5550, 1.5500, 1.5450.
Open position to buy if prices are higher fixing
1.5755. In this case, the pair will open the way to resistance level 1.5800. AT
event of the formation of the downward trend, sales positions open
confident after the breakdown level of 1.5630. The immediate goal "bears" at
such a scenario will be the level of 1.5550, and then 1.5500.
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