Yesterday the pound added 20 points. The nature of the growth was that from the technical point of view, leading indicator Marlin continued dropping and continues forming technical conditions for signal for accelerated drop (transition to the negative territory).
Today at 12:30 UTC+4 data on Public Sector net Borrowing in July, forecast -3.7 billion pounds vs. 10.2 billion pounds in June. The index of factory orders (CBI) in July is issued at 14:00 UTC+4. It is expected to be -8 vs. -12 in the previous month.
If data is not worse than expected, the break of the level 1.5682 is possible and the price may reach the boarder of the pink channel on the H4, 1.5717, here reverse movement on Minutes of FOMC Meeting is possible (at 22:00 UTC+4). Target levels for bearish movement pointed on the 4H chart; 1.5606, 1.5572, and 1.5545.
The material has been provided by InstaForex Company – www.instaforex.com
Yesterday the pound added 20 points. The nature of the growth was that from the technical point of view, leading indicator Marlin continued dropping and continues forming technical conditions for signal for accelerated drop (transition to the negative territory).
Today at 12:30 UTC+4 data on Public Sector net Borrowing in July, forecast -3.7 billion pounds vs. 10.2 billion pounds in June. The index of factory orders (CBI) in July is issued at 14:00 UTC+4. It is expected to be -8 vs. -12 in the previous month.
If data is not worse than expected, the break of the level 1.5682 is possible and the price may reach the boarder of the pink channel on the H4, 1.5717, here reverse movement on Minutes of FOMC Meeting is possible (at 22:00 UTC+4). Target levels for bearish movement pointed on the 4H chart; 1.5606, 1.5572, and 1.5545.
The material has been provided by InstaForex Company – www.instaforex.com
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