GBPUSD Fundamental & Technical Analysis (April 2, 2013)

The GBPUSD rose more than 40 pips in yesterday’s session. Today, the cable could define completely the trend for this week.

In the fundamental outlook for today, we must pay attention to the Manufacturing PMI, which has a previous reading of 47.9 and has a forecast of 48.9. A reading higher than the forecasted, would lead the GBPUSD to a bullish road.

In the technical analysis, we can observe in the daily chart, the development of a triangle pattern, which is formed with a bullish trendline and a resistance at 1.5255. If it does a breakout in such resistance, the GBPUSD can be looking at long-term, to bullish objectives at the resistance in 1.5531. Furthermore, if it does a breakout of the bullish’s trendline, the cable could be falling to the support at 1.5100. The MACD indicator is in positive territory and I still can see upward force to the cable.

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @conexiondigicol

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  John Cadogan

• 

  Kiana Danial

• 

  Quoted Data

• 

  Angelina Jennifer