GBP/USD: Strong support 1.5212 – daily strategy for May 14, 2013
May 14, 2013 2:45 pm
The British pound falls hard in these hours because an inflation report is released on Wednesday and it is speculated that present negative signs, driving away the possibility that the BoE will increase interest rates and, in turn, can cut them in the near future. Technically, this pair approaches the daily fractal support 1.5212 area during the month of March and April. So we believe that this area will be an opportunity to buy the pair only if there is a technical rebound with target at 1.5427.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
The British pound falls hard in these hours because an inflation report is released on Wednesday and it is speculated that present negative signs, driving away the possibility that the BoE will increase interest rates and, in turn, can cut them in the near future. Technically, this pair approaches the daily fractal support 1.5212 area during the month of March and April. So we believe that this area will be an opportunity to buy the pair only if there is a technical rebound with target at 1.5427.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
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