FX.co ★ GBP/USD. Forecast for September 28, 2012

The data we got yesterday from the UK was mixed. GDP for the second quarter was finally revised from -0.5% to -0.4%. Balance of payment was much below the forecasts with -20.8 bn pounds instead of -12.2 bn pounds and -15.4 bn pounds in the first quarter. However, the pound managed to hold high levels during the last week despite the European issue. High rollers were holding the purchases back. Probably they knew about favourable decisions Spain was going to make.
Technically, after the price tests Krusenshtern trend line on 4H chart, the growth will continue. On daily chart the price has already crossed resistance trend line. Targets for growth: 1.6288, 1.6335/40.