GBP / USD showed some sudden upward movement, rising near the level of 1.60, but closed the week slightly lower occupied 1.5830.The next week, with ten shots. Here is an overview of upcoming events, and a technicalanalysis update for the GBP / USD.
PMI construction and net lending to individuals have exceeded market expectations, while the UKeconomy shows signs of slight improvement.
GBP / USD chart with the lines of support and resistance on the subject. Click to enlarge:
1.Halifax HPI: trying to free time. The index of house prices is an important indicator of the health of the housing industry in the UK. In February, the index rose above zero for the first time since Novemeber 2011th The forecast for March is a small increase of 0.3%.
2.Services PMI: Monday, 09.30. The services sector is one of the strengths of the British economy, when the index was above the level for 50 January 2011. Little change is expected in the March reading. See how this trade event.
3.BRC Retail Sales Monitor: Monday, 00.01. This status, the government published data on retail in about 10 days. The indicator is in negative territory for much of last year was that the battle of the retail trade. The reading last month was -0.3%. If the display is above the zero level of March, the first reading would increase in positive territory since October 2011 Mark.
4.BRC Shop Price Index: Tuesday, 00.01. The indicator provides important data on consumer inflation. The indicator has fallen for four consecutive months, reading to 1.4% in February.
5.Asset Purchase Facility: Thursday, 00.00. Also knew as the quantitative easing program, this indicator measures the amount of money the central bank to create and acquire assets on the open market. Market forecasts are usually but not always accurate. 325B, the previous reading, the highest amount since the program was started in 2009. No change is expected this month.
6.Official Bank Rate: Thursday, 00.00. Interest rates have in the UK, was connected by 0.5% over the past two years, and no changes are expected this month.
7.Manufacturing production: Friday, 09.30. Production in the manufacturing sector had its best month since reading in July 2011, 1.0% to a healthy. The markets expect a lower reading of 0.4% for March. The indicator of its markets, new surprise with a high reading?
8.PPI input: Friday, 09.30. Also knew as the CPI, the most important indicator of consumer inflation is known. The index rose 0.5% last month, and the markets expect a slight increase in March.
9.Consumer Inflation Expectations: Friday, 09.30. This indicator is published quarterly, is based on a consumer survey on inflation expectations in the next 12 months. The indicator has fluctuated around 4% in recent months.
10.NIESR GDP Estimate: Friday, 15:00 clock. This indicator tries to predict the GDP on a monthly basis, according to official GDP figures are published quarterly. The indicator fell 0.2% last month, his first foray into negative territory in February 2O11. The indicator in order to recover from back in positive territory in March?
* All times are GMT.
GBP / USD Technical Analysis
Pound / dollar started the week at 1.5884. After falling to 1.5799 low, recovered from as high as 1.5992, just below the strong resistance line at 1.60 (discussed last week). The pound / dollar was later withdrawn and closed the week at 1.5832.
Technical levels from top to bottom
We begin with the strong resistance level of 1.6472, which was itself tested since August 2011. The next resistance level at 1.6426 is. It is of 1.6265 resistance actions. 1.6132 and then a strong resistance offered in November last year. Then there is a resistance 1.6065. GBP / USD is as high as 1.5992, just below an important resistance level of 1.60, before retracting. These levels are not seen since November last year. Is then violated 1.59 this week, but still offers little resistance. Nearby is the 1.5860 line a path of least resistance, which can be injured in an upward movement of the couple.
It is about 1.5750, which followed on the GBP / USD remains supported. The next support at 1.5720 lines. 1.5629 and has established itself as a support level since late January. Then there is strong support for 1.5520. Finally, the round figure of 1.54, which was used as solid support in November and December 2011, again supported the couple.
With a few strong downward movement of the GBP / USD, this week remains the most important line of evidence for 1.5755. He continues to act as a weak support for the couple. The next support line is a low of 1.5720. 1.5629 and has established itself as a support level since late January. Then there is strong support for 1.5520. Finally, the round figure of 1.54, which was used as solid support in November and December 2011, again supported the couple.
I remain optimistic about the GBP / USD.
GBP / USD was back in an upward movement last week, close to the rising level of 1.60. Barring unforeseen economic news, the pair could continue to push upwards.
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