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17.04.201312:23 Forex Analysis & Reviews: GBP/USD. Forcast for April 17, 2013

Long-term review

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Yesterday data on UK Inflation was in line with forecasts. Inflation was estimated to slow down (CPI 0.3% vs. 0.7%, PPI Input -0.1% vs. expectation for -0.3%). The Bank of England kept its so-called quantitative easing program of bond purchases unchanged at 375 billion pounds on April 4. The minutes will show whether Governor Mervyn King voted to expand asset purchases. At 12:30 GMT+4 data on Claimant Count Rate, Claimant Count Change is expected to be flat vs. -1.5K in February. ILO Unemployment Rate is expected to be flat 7.8%.

Technically, on the daily chart the price is on the Red trendline, on the H4 Marlin oscillator is on the zero boarder. If the testing level is broken on the H4 1.5342, downward movement to the area of Fibonacci extension (1.5296) is possible. If the price reaches the area above the Fibonacci levels on the H4, higher 1.5384, the growth to 1.5432 is possible.

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