GBP

GBP/USD is above the level of support 2.0080, formed by the closing half of 2007. Against the background of declining USD as well as the weakness of the British currency, the whereabouts of prices in the area make it an attractive couple maximums for Bid.

Last year Government of GB announced that the cycle of monetary policy with high rates ended and now a new economic cycle is coming which is going to be accompanied by the weakness of the pound.

This statement has turned around a pair trend, which has formed a descending trend, a rebound of price is a technical correction, which is expected to show a maximum near the mark 2.0250 (50% of the downward movement).

These attractive levels to sell the British currency will not remain unnoticed. Speculators will take advantage of this by opening the long-term short positions as soon as the first signs of a turn appear.

At the current time it is attractive to sell the pair from the level of 2.0250 with a stop order above 2.0500. The nearest target is in the area of 1.94. Further is 1.9175 (closure of the first three-year cycle)