18 Apr 2011

GBP/USD Analysis
No major news today. So it is all predictive and technicals.

The issues of Europe debts dotted the papers and Bloomberg again. Europe has raised its interest rate and has the intention to move them up. UK MOC has start voting to raise interest rate, but is 3 against 9.

Dollars has been strengthening since last week. Gold move up to above $1480.

Wihout news, today until Wednesday UK MPC voting, all the less than positive news build up, the technicals revealed that the pound is retreating.

CCI on the daily is down. Allow the pound to find support at 1.627 (EMA21 daily) which is may hit this morning and gain next towards 1.620.

Resistance is at 1.634/35.