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Pound Target: 1.5645


On Tuesday the pound/dollar was fluctuating in Monday’s range. After a growth to 1.5775, the pair returned to 1.5710. In Asia the rate of the British pound broke the trend line. For me, there’s only one way this is going: down to the 90th gradient. At 12:30 EET there’s a report on financial stability from the Bank of England coming out and M. Carney will give a speech. During that time the volatility on the pound will increase. Now to the Daily tab.

GBP/USD Hourly Graph


The rate of the pound/dollar is trading in Monday’s price range. A break of the 1.5661 minimum will open the road to 1.5644. This is the 38% level. If the sellers manage to pass it successfully, 1.5555 will be targeted. In this case Greece won’t matter.

GBP/USD Daily Graph


The weekly indicators are upward. With the payrolls approaching, pressure on the pound could rise.

GBP/USD Weekly Graph


Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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