Daily Market Analysis by Exness - GBP/USD

Trading Systems
21

02.12.2014 7:07 GBPUSD
In the short term the pound may test the 1.5827 level

Buy on a level breakthrough of 1.5763 with 1.5827 target. Stop loss = 1.5710.

Reason for the trading strategy

The November increase in the business activity index in UK’s manufacturing sector from 53.3 p. to 53.5 p. is encouraging recovery in the real sector of the world’s 6th economy. Note that at the end of September, industrial production in the UK rose by 0.6% (m/m) and 1.5% (y/y). The labor market in this country also demonstrates good dynamics. In September, the unemployment rate in the UK amounted to 6%. Meanwhile, low inflationary pressure does not allow the Bank of England to start tightening its monetary policy.

GBPUSD, H4

22

04.12.2014 8:08 GBPUSD
GBPUSD: consolidation before the Bank of England’s meeting

Buy on rebound from 1.5583 level with 1.5764 target. Stop loss = 1.5520.

Reason for the trading strategy

This afternoon, a Bank of England will be held. It is expected that the national regulator will keep its key interest rate in the country and the amount of asset purchases unchanged at 0.5% and 375 billion. pounds. In the short term, the GBPUSD pair may decline to the support level of 1.5583 against the background of a possible strengthening of the US dollar against the euro.

GBPUSD, H4