GBP/USD. Analysis for January 15, 2013
Yesterday the British pound fell due to lack of positive news. Today at 15:00 GMT+4 data on inflation is published in the United Kingdom for December. It is expected to rises. Consumer Price Index is forecast to grow from 0.2% to 0.5%; Retail Price Index is considered to up 0.4% vs. flat in November.
At 19:30 GMT+4 Sales at U.S. Retailer is expected to rise 0.2% December against 0.3% in the previous month.
Data that is to be released in terms of increasing tension in the USA on the external debt contributes to the continuation of the pound’s drop. (Yesterday Treasury Secretary Timothy Geithner said Monday that the United States will exhaust its statutory borrowing authority between mid-February and early March, putting pressure on congressional Republicans to raise the debt ceiling before then.)
On the 4H the rate has overcome 1.6082, the high of January 7, which coincides with the Krusenshtern trendline, the price may move down to the level of 1.6020. The next target is support of the next line on the level of 1.5955.
The material has been provided by Instaforex Company – instaforex.com