British assets may become increasingly popular with investors amid the current situation in France. According to Barclays Capital, the UK economic recovery will continue.
Technically, the GBPUSD dynamics is bullish as Friday’s trading session closed above the 200-week MA. Last week’s dynamics was caused mainly by external factors. This week the ONS is to publish its GDP report for Q1 2012, which will be a major driver for the British Pound market. The analytic team of Lloyds bank assumes that poor performance may weaken the British currency.
According ot , GBPUSD keeps rallying. The currency pair is forming wave А(С)/С A break above 1.6114 will continue the upswing in the form of sub-wave 5 or А inside the “Hound of the Baskervilles” pattern by Elder/MF. The closest major levels of resistance are located at 1.6165 and 1.6268/70. The rally will be over once the price breaks below 1.6075.
