GBP / USD. Forecast for November 21, 2012

Written by Tim T.

British pound yesterday are not as sensitive to react to change attitudes of European investors and completed the day increase by 19 points.

 Today at 13:30 MSK published data on public sector net borrowing of the UK in October: the forecast 4.1 billion pounds against 10.7 billion in September. Volume requirements of the state's borrowing in October is expected to decrease by 15.0 billion pounds against -0.6 billion in September. These, of course, optimistic, but at the same time published minutes of the last meeting of the Bank of England's monetary policy and is expected to show the mood of the protocols to increase quantitative easing, but it will have the local pressure on the pound.
Technically, the situation is also uncertain, but a possible decrease warns oscillator Marlin, is showing signs of divergence. Prevents the growth of the resistance trend line on the daily scale (1.5942), yesterday, its price is not reached and can be rolled back without the mining level. Downside target: range 1.5885-97, 1.5870, 1.5846. Growth is possible after overcoming the resistance trend line on the daily scale 1.5942, in this case, the first targets are defined on the four graphs: the first 1.5959 and in case of consolidation above this level - 1.6003.

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