Yesterday the pound grew amid data on US Existing Home Sales. However, the rise was observed amid weak data. Thus, the US dollar is weakening.
Today at 12:30 UTC+4 BBA Loans for House Purchase in the UK in June is published; forecast 38,500 vs. 36,100 in May.
From the technical point of view, the price has reached the target level of 1.5380 and now this level is a testing one. If the pair breaks this level, the price moves to the first bullish target 1.5411, the low of June 30 it is the high of April 11. Consolidation of the price above the level opens an opportunity of local boarder of green price channel on the H4 1.5470. Near resistance of trend line on the daily chart 1.5463 is located.
If data is weak, the price may drop to the support of price channel 1.5301, which coincides with the High of July 3 with the perspective of complete test of the channel on the 1.5275.
The material has been provided by InstaForex Company – www.instaforex.com
Yesterday the pound grew amid data on US Existing Home Sales. However, the rise was observed amid weak data. Thus, the US dollar is weakening.
Today at 12:30 UTC+4 BBA Loans for House Purchase in the UK in June is published; forecast 38,500 vs. 36,100 in May.
From the technical point of view, the price has reached the target level of 1.5380 and now this level is a testing one. If the pair breaks this level, the price moves to the first bullish target 1.5411, the low of June 30 it is the high of April 11. Consolidation of the price above the level opens an opportunity of local boarder of green price channel on the H4 1.5470. Near resistance of trend line on the daily chart 1.5463 is located.
If data is weak, the price may drop to the support of price channel 1.5301, which coincides with the High of July 3 with the perspective of complete test of the channel on the 1.5275.
The material has been provided by InstaForex Company – www.instaforex.com
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