27 Apr 2011

GBP/USD Analysis
Look as if a support at 1.645 has prevent any breech down even with the better US economy sentiments on the US New homes sales and US consumer confidence.

Weighing strongly today is the news at 1630 on UK Prelim GDP. The expectation is 0.5% growth and that will push the pound higher, gaining confidence that the UK economy is recovering.

Support at the hour chart EMA200 lies at 1.645/46. With next at daily EMA21 at 1.638/40

Daily CCI 34 is flaten, with overbought occurred and now the CCI has cut the first BB line, an indication of a downward movement.

Pound made high and attempt 1.660. If the news break this high, pound will made towards resistance at 1.70!