11:35Forex forecast. Overview pair GBP / USD on 29.10.13
|Overview pair GBP / USD on 29.10.13|
Technical, fundamental analysis of the situation and the forecast for today .
Today started with a pound of following the European currency in all aspects of the market . This is due primarily to the fact that the Euro is not the beginning of change, and the U.S. . When will the ongoing process of accumulation of positions that we are likely to see a rise in prices on the pound down to 1.6147 . Price is trying to accumulate long positions , but this is not enough to balance the already collected short orders. It is with this fact begins imbalance between the European and the British currency pair. Euro likely to try to lower prices to the news in the U.S., but the pound will continue to accumulate purchases, which will be reflected in its short-term growth with the primary purpose of 1.6147 ( the most likely mark) . Volumetric analysis and candle on the side of the bulls, as a priority short-term trend , long term lead bears. Forex forecast on the side of the bears as a priority long-term trend .
The fundamental outlook for the GBP / USD :
Today, the British currency opens the way to 1.60 , as a priority long-term objective (time to 4-6 business days) . Statistics from the U.S. opening today at 16:30 and 18:00 GMT will be able to radically change the current market trend. For example, data on retail sales in the U.S. will affect not only the currency , but also on the manufacturing sector of the market , and changes in the level of consumer confidence or support the trend, formed under the influence of the first news , or completely change the direction of the trend. Thus, will play the role of the activator collect items that will come in handy after a short growth of the asset. In the event that the market situation will go beyond the classical , such issues need to smooth out market stress. The British pound this week will be less susceptible to correlations with other currencies of the member states is necessary to take into account when building their trading strategies.
Conclusion: an analytical review and forex forecast controversial with technical superiority on the side of the bulls, as a priority short-term trend ( goal : 1.6147 above and other purposes) , the Bears the lead, as the long-term trend . See the proposed trading strategy and make appropriate conclusions.
Intermediate levels of support and resistance for today .
Thus, for a 30- minute analysis period :
1.6314 , 1.6361 , 1.6333 , 1.6272 , 1.6164
Attention : This analytical article is not a guide to action and reflects the personal opinion of the author.
Shikhaliyev Farid , Analytics Forex Market
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