Forex news, pound rate. Barclays Capital analytics are expecting GBPUSD currency pair for some time to remain within 1.5233-1.5425 flat zone. In their opinion, passing the flat top line will target the pair at 1.55.
Such prediction is supported by fundamental data. UK Office for National Statistics informs about the drop in annual rate of inflation for the first time in last two years.
Consumer price index has risen by 4.2% in comparison to December 2010, which has absolutely verified the forecast. In November the index amounted to 4.8%. Present situation is estimated as the maximal drop in annual inflation since April 2009. The major factors that trigger drop in inflation include lower oil prices and stabilization of gas prices. There has also been strong impact of lower prices due to Christmas sales. However, in comparison to November consumer price index has risen by 0.4%.
Pound rate has finished forming bearish sub-wave А(С)/С of Daily level. According to the experts of Мasterforex-V Trading System, bullish wave А/В bearing Daily potential is being formed despite the fact that pivot MF 1.5408 has not been passed. Bullish wave А/В will continue being formed when the maximum of 1.5403 is passed; resistance to it will be provided by pivots MF 1.5408 and 1.5499 and sloping channel MF. Long-term bearish trend will continue by forming sub-wave С(С) when the minimal point of 1.5233 is passed.
