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[QUOTE="AlexanderLiteForex, post: 49609, member: 22090"] [b]GBP/USD: Carney has opened new horizons[/b] [b]1. Current trend[/b] Yesterday’s speech by the head of the Bank of England Mr. Carney has triggered high volatility in the national currency rate. First market’s reaction to his statement, that interest rate will not be raised until unemployment rate reaches the level of 7%, was negative. According to projections of the bank of England this level will be achieved not sooner than Q3 2016. The pair fell to the level of 1.5204.However, later, after the inflation report the pair rose up to the level of 1.5500.The Bank of England has changed GDP forecast to1.5% against the previous forecast of 1.2% in 2013 and to 2.5% instead of 1.9% for 2014. Technical indicators show that the major obstacle to the further rise is the level of 1.5500. This level coincides with the level of 23.6 Fibonacci. If the level of 1.5500 is broken down, the growth may reach the level of 1.5800. [b]2. Support and resistance[/b] The nearest support levels are 1.5500, 15475 and 15450, while the main target of the “bears” is 1.5400. Key resistance levels: 1.5550, 1.5580 and 1.5600. [b]3. Trading tips[/b] At this stage we can expect testing of the level of 1.5500. If breakdown of this level takes place, the pair may grow up to 1.5800. Otherwise the pair may experience correction to the level of 1.5400. [img]http://www.liteforex.com/uploads/other/c84281b44a15b2b1371b7384c3102ee9.png[/img] [i]Ilya Lashenko Analyst of LiteForex Group of Companies.[/i] [/QUOTE]
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