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