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FOREX: Technical analysis 10/05/12

05.10.2012

Market Review

GBP/USD

The news background:

Pair is consolidated after yesterday's convincing growth against the backdrop of the decision of Bank of England to left the rates at the same level as well as the amount of redemption of government bonds. If today the statistics from the U.S. will be positive, the pair can get good support.

Technical picture:

From a technical point of view, the pair is in the upper Bollinger and above MA 5 and MA 21.

Oscillator Stoch. is overbought. The RSI indicates a weakening of growth of pair.

Trading recommendations. Buy a couple of the likely short-term goal 1.6235, if the data on employment in the U.S. is not worse than expectations.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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