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

On Friday, amid lack of important data the pound was trading in the range 1.5357-1.5418.

Today at 12:30 UTC+4 data on the UK is published. Net Consumer Credit is forecast to be at May’s level, 0.7 billion pounds. Net lending secured on Dwellings is expected to be higher; 0.7 billion pounds vs. 0.3 billion pounds. Net lending to Individuals is expected to be 1.4 billion pounds vs. 1.0 billion in May. Mortgage Approvals are expected to be 59,7K vs. 58.2K in May.

At 14:00 UTC+4 CBI Realized Sales in July is published, forecast 10 vs. 1 in June. Thus, positive.

From the technical point of view, after the rate breaks the testing level 1.5436, the nearest target 1.5458 is expected, after it is broken, movement to 1.5528, the high of June 21, is possible. If weak data is published, we expect the break of lower testing level 1.5357 and movement to 1.5323.