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03 February 2015: GBP/USD: analysis and forecast

GBP/USD: analysis and forecast





Despite the UK’s positive data on the manufacturing activity index, the pound did not manage to claw back previous losses: the GBP/USD is still trading near an important support level, 1.5000. PMI has been growing for 23 months in a row. In January, it grew from 52.5 points up to 53 points instead of the expected 52.9.

However, UK economy recovery rates leave much to be desired: the index grew 0.2% from one quarter to the next, which is only 0.1% more than last year's value. If these dynamics remain, the UK monetary policy (as far as the interest rate is concerned), will hardly be revised in the near future.
The business activity index in the UK construction sector will be released today. Its decline might put additional pressure on the pound.

Resistance levels are: 1.5044 (maximum of the Asian session), 1.5100 (yesterday's maximum), 1.5162 (29 January's maximum), 1.5240 (upper line of Bollinger Bands).
Support levels: 1.5000 (important psychological level), 1.4952 (23 January's minimum), 1.4900 (important psychological level), 1.4812 (minimum of July 9, 2013).

This website/communication is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. It has been prepared by Mayzus Investment Company Limited without taking into account any particular person's objectives, financial situation or needs. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Past performance is not indicative of future performance. The future value of your investment may rise and fall with the changes in the market.






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