empty
 
 
26.03.2013 12:26 PM
GBP/USD. Forcast for March 26, 2013

Once again the British pound was stable amid the situation in the European Union. At the end of the trading session it dropped 60 points. Bank of England Governor Mervyn King delivered speech at London School of Economics and it contained general information.

Today at 14:00 GMT+4 George Osborne, Chancellor of the Exchequer, speaks. At 15:00 GMT+4 data on UK CBI retail sales volume balance in March is issued. It is expected to be 12 vs. 8 in February. If data on US New Home Sales is better than forecast, the pound may resume its growth. On Thursday, US GDP in Q4 is published. It is expected to be 0.5% vs. 0.1% in the second estimate and the investors have time to prepare for the release and the day off on Friday.

Technically, we expect the rate reverses from the strong area of support of highs of March 18, 19 (~1.5130) and the growth to the resistance of Fibonacci extension on the H4 (1.5142). If the rate consolidates above it, it will continue the bullish trend.

 

This image is no longer relevant
 

This image is no longer relevant

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback