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FOREX: Technical analysis 21.12.12

21.12.2012

Market Review

GBP / USD

News background:

The pair is under pressure after weak macro data on GDP for the third quarter, which was revised up to +0.9% from 1.0%. The only factor supporting the pound is the weakness of the dollar and the expectation of a positive solution of the budget crisis in the U.S..

Technical picture:

From a technical point of view, a pair of still rising short-term trend. Price below the EMA 5, but still above the EMA 21 and at the bottom of the Bollinger Bands.

Oscillator Stoch. indicates the possibility of a reversal pair up. The RSI shows a continued weakening of the pair.

Trading recommendations. Sell the pair if it drops below 1.6235 to 1.6175 with a local.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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