03, April 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

Yesterday’s news was neutral, still the pair lost 130 points for no apparent reason.

The Bank of England may come to a loose monetary policy. This transition can affect the data on business activity in England after the European session.

PMI can show a return higher than 50-point mark. In December and January it was above this level. But in February fell to 47.9. If the index grows to 50, the pair GBP/USD will go to 1.53.


Today at 12:30 MSK index of business activity in the construction sector for March is published, forecast 47.7 vs. 46.8 in February.

U.S. new jobs in the private sector indices are published today (203K vs. 198K in February). The forecast is optimistic we expect recovery of the pound sterling.