19, March 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

Pound reacted without excitement on the EU decision to withdraw the order of 9% from the accounts of depositors in Cyprus banks. This week we expect data about the inflation, results of the last CB meeting and retail sales for February. Forecast is positive for all news.

If we get the bad news from the Cyprus we shall expect the fall of the pair. If a question on Cyprus will be resolved in favor of the loan the pair shall continue to grow.

We believe that that today the price may reach 1.5220 after that it will go down to 1.5030.