FX.co ★ GBP/USD. Forecast for May 15, 2013

Yesterday the British pound amid lack of relevant macroeconomic news followed the descending move of all the currency pairs having USD.

Today is a very important day for the pound. At 12:30 GMT+4 data on Claimant Count Change and Claimant Count Rate is published. UK Claimant Count Change may drop 3.1K vs. -7K in March. UK Claimant Count Rate is 7.9%.

At 13:30 GMT+4 Bank of England Quarterly Inflation Report is revealed at the same time the Bank of England governor Mervyn King speaks. The investors expectations about Bank's report are rather optimistic as well as the last presentation of Mervyn King (on July 1, Mark Carney takes office).

If the scenario is positive we expect to observe a correction from the boarder of the Bollinger Bands (20-2) on the H4 to the range of 1.5284-1.5300. If investors' expectations are not fulfilled and data on US Industrial Production (forecast for April -0.1% vs. growth for 0.4% in March), then the relevant level 1.5185 will be broken and the price may move to the next bearish targets 1.5157 and 1.5132.