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Old 28-01-2014, 14:05
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Default Re: Market news and trade recommendations by FBS

GBP/USD

GBP/USD extends growth for a second day in a row, breaking above $1.6600. The pair is moving towards the recent high of $1.6670. Cable remains supported by the January rising trend line ($1.6515 as of writing). General market sentiment is bullish. MACD histogram rose above the signal line. RSI is close to the overbought zone. Watch the UK Q4 GDP today the forecast is a little bit to the downside.

Support: $1.6600/6590, $1.6565, $1.6470

Resistance: $1.6670, $1.6740


Chart. H4 GBP/USD

Upcoming events:

GBP 9:30 GMT Preliminary Q4 GDP, Index of Services
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