FX.co ★ GBP/USD. Forecast for October 5, 2012

Bank of England left its policy unchanged, as it was expected: the interest rate is still at the level of 0.5%, the bond purchase target is left at 375 bn pounds. The British currency grew amid positive atmosphere on the market.
Today we do not expect any data from the UK; investors will be catering the labour data from the USA. The anticipations are encouraging.
The price growth has stopped on the Kruzenshtern trend line of 4H time frame. After it is fixed above it, we can expect continuation of the uptrend.
Technical targets are at 1.6245, 1.6257 (resistance on daily time frame), 1.6309 (high of September 21).