21, March 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)q

Yesterday the pair tried again to continue the growth, but lost  the previously earned points by the end of the trading day.

ICN.com experts warn that "on an intraday basis pair must be held above the 1.5085, which equates to support for continued growth. Sustained trading above this level will indicate a breakthrough. "

Data on inflation in the UK in February, released the other day, showed a significant growth.

Producer price index at the entrance was 3.2% compared to 1.3% in January and 1.7% forecast, the producer price index for the output was 0.8% versus 0.2%, core CPI was 2.3% vs. expectations 2.2%.

Retail price indices and housing prices have declined (retail price index 3.2% vs 3.3%, price index 2.2% versus 3.3%).

Overall, inflation remains high and investors are waiting for changes in monetary policy.

Indices of retail sales for February will be published at 13:30 MSK: the forecast of 0.5% against 0.6% in January. We wait for data on public sector borrowing today, forecast 8.4 billion pounds versus -9.9 billion in January, expecting growth.

The balance of production orders in the UK in March, weather -16 vs. -14 the previous month.

Additional support for the pair may five an index of business activity in the U.S. and sales in the secondary market in the U.S. in February (5.02 million vs 4,92 million), which is expected to grow.