GBPUSD – Analysis and Forex Trading Signals – 14 May 2014

GBPUSD – Analysis and Forex Trading Signals – 14 May 2014

Analysis:

GBPUSD extend its loss today after Unemployment data and BoE Quaterly Inflation report as well as BoE Governor speech.

Labor data was mixed but BoE Governor Carney speech disapointed the market and traders. According to BoE Governor, he suggested that interest rates should likely remain low for the foreseeable future. This is the reason why the market reacted strongly with Governor’s comments.

GBPUSD loss more than 100 pips after these reports and event. GBPUSD is currently testing support level of 1.6760 as noted yesterday. We expect GBPUSD will break this support level soon to move down further.

Forex trading signals:

Resistant zone:

+1.699 – 1.700

+1.689 – 1691

+1.680 – 1.684

Support zone:

+ 1.676

+ 1.666

Forex Signals 247

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