2012-07-16 17:03:00
1. Current trend of GBP/USD
Friday, 13 July was a favourable day for the British currency. The Pound has grown against the USD, due to the positive financial news from the UK. Investors were encouraged by the data on production in the construction sector. According to the National Bureau of Statistics, ONS, output in the construction sector rose by 6.2% against the fall of 13.6% in April. The pair was also supported by the announcement made by the Bank of England and the British Treasury about the details of the new scheme- FLS (financing loans) that will help banks obtain funds at the interest rate from 0.25% to 1.50% depending on the terms and volumes of the loan.
The price was in the range of 1.5415 - 1.5500.
2. Important levels (Support and Resistance)
If ascending trend continues, resistance level will be at the level of 1.5590 and the next target for the “bulls” will be the level of 1.605. If downward trend will develop, support levels will be1.5515 and 1.490.
3. Best entry/exit points
The best point to enter the market is 1.5520 with protective order around 1.5550.
Buying is recommended above 1.5590 with protective orders below the level of 1.5550.
Friday, 13 July was a favourable day for the British currency. The Pound has grown against the USD, due to the positive financial news from the UK. Investors were encouraged by the data on production in the construction sector. According to the National Bureau of Statistics, ONS, output in the construction sector rose by 6.2% against the fall of 13.6% in April. The pair was also supported by the announcement made by the Bank of England and the British Treasury about the details of the new scheme- FLS (financing loans) that will help banks obtain funds at the interest rate from 0.25% to 1.50% depending on the terms and volumes of the loan.
The price was in the range of 1.5415 - 1.5500.
2. Important levels (Support and Resistance)
If ascending trend continues, resistance level will be at the level of 1.5590 and the next target for the “bulls” will be the level of 1.605. If downward trend will develop, support levels will be1.5515 and 1.490.
3. Best entry/exit points
The best point to enter the market is 1.5520 with protective order around 1.5550.
Buying is recommended above 1.5590 with protective orders below the level of 1.5550.
