FX.co ★ GBP/USD. Forecast for May 29, 2013

Yesterday the pound dropped 60 points. Today at 14:00 GMT+4 a Confederation of British Industry's report in May is released. It is forecast to be 4 vs. -1 in April. However, earlier, at 13:30 GMT+4 Bank of England Deputy Governor Charles Bean speaks. At the moment we are not sure whether he speaks about growth or stabilization. At 14:00 GMT+4 Andy Haldane, a senior official at the Bank of England speaks.

At 21:00 GMT+4 Fed Bank of Boston Eric Rosengren speaks.

Technically, the price has consolidated lower the Kruzenshtern line on the daily and H4 charts, the downward movement has stopped on the support of Fibonacci extension on the H4 and continuation of drop is possible after the extension is broken, lower 1.5013, the low of May 23 as well. The first target is 1.4972, the second is 1.4936.