Tue, 01 May 2012 18:41:00 +0400
Forex news, GBPUSD. BNY Mellon experts believe that the Bank of England will inevitably face problems, caused by the increase of British currency. This may stipulate verbal interventions from the Bank. Times change, and the Bank of England will have to cede the secrecy, which it has always demonstrated in monetary policy.
British pound is turning into shelter currency again. Such change of roles is happening under the influence of investors, who are trying to avoid the impact of debt crisis in eurozone. However, the change is happening in inconvenient for British government time, and higher GBPUSD may have negative impact on the efforts of British government that are directed at fighting recession.
GBPUSD remains within long-term rising trend. According to the experts of Masterforex-V Trading System Department, the pair has finished forming 3rd sub-wave or sub-wave А(С)/С as a part of long-term bullish wave С. At this point GBPUSD currency pair is within the zone of forming 4th sub-wave or sub-wave В(С) of bullish trend. 5th sub-wave or sub-wave А as a part of Elder’s Hound/MF will start when local maximum is broken. The closest resistance is provided by Fibonacci points 1.6345 and 1.6389. Further decline will be supported by pivot MF 1.6152, as well as the end of 4th sub-wave – 1.6062, and sloping channel MF.
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These are the Main Daily Trading Signals with a closer look at the technical models and how they compare with the interbank at 8 AM GMT.
Euro/Dollar sees 4 buy prompts on both its 1 and 4-hour charts, but the 24-hour scale turns neutral with 5 models, and it is in line with the less than 1% long interbank.
You're watching the Main Daily Trading Signals for Monday. Here's how the interbank compares with the technicals at 8 AM GMT.
All three time ranges bring different results for the Euro/Dollar, which is mostly bearish in the short-term. The mid-term turns neutral with 4 models, and the daily outlook brings 4 buy prompts. Neutral at less than 1% long, the interbank supports the 4-hour models.
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