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

Yesterday U.K. economy data was published. It was better than the forecast. Gross domestic product grew 1% sequentially in the third quarter; export rose 1.7% (vs. forecast 1.1%). Services output gained 1.3% in September, later it was expected to be 1%. Amid the data and positive outlook for U.S. economy the pound lost just 5 basis points. There is no data for U.K. for today; New House U.S. Sales are forecast to be lower than in the previous month. From the technical point of view the pound is under pressure. On the daily chart the price has consolidated under the balance line (red sliding). On the 4H chart Marlin oscillator went into the negative territory. The first target for lowering is 1.5978, the high of November 22; the second one, which can be reached tomorrow is 1.8978, support for the trendline on the daily chart.