20, February 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

There was no news that could influence the pair yesterday.

GBP/USD fell to a fresh seven-month low yesterday in Europe, reaching 1.5430 and jumped on him. However, the Bears are still a leader in the pair, continuing to focus their attention on the area 1.5260, which is the minimum of June 2012.

Investors are not likely to buy a lot of unpopular pound against the background of the Britain's economy in the flat and the prospect of losing Britain's AAA rating.

Martin Huila believes that the pound may need to continue to be weakened to balance the British economy. It is not surprising that the currency is under pressure and speculators actively open short positions.

After falling to the 7-month lowest positions below 1.5440 pound was able to recover to 1.5510, but the momentum soon waned and the pair returned to 1.5470.