FX.co ★ GBP/USD. Forecast for May 17, 2013

The pound was rather strong amid psychological pressure on the market, as speculation the Fed may be moving closer to ending stimulus boosted demand for the US currency. The pound gained 35 points.

Today no data on the UK is published. At 13:30 GMT+4 Martin Weale, member of the Bank of England's Monetary Policy committee speaks.

Technically, locally the pound preserves tendency to grow, Marlin oscillator on the H4 is in positive territory, accumulation of big buy orders in the area 1.5205/35 being a strong support is not broken.

If the testing level 1.5263 is broken, the first target 1.5298 opens, then the area of 1.5320/32 which coincides with the resistance of trendline on the daily chart, then 1.5355.

If the lower testing level is broken 1.5230, the price will try to test the area of buys to 1.5205 and if it is successful, it may reach 1.5173, the low of May 15 (lower 1.5157).