Analyst from the company ForexMart (ForeksMart)
GBP / USD. 12.05. The pound slipped after seriously stats
For the last day the pound dipped severely. Following the session, the decline was 85 points. By evening, the Briton was able to recover slightly and the pair finished the day near the 1.2887 mark. Today, the pair attempted to develop an upward movement and almost broke the level of 1.29, but later moved to decrease and dropped at least two weeks, indicated yesterday, another two points, up to 1.2846.
Now a couple of presses the apparent reluctance of the British Central Bank to change monetary policy, despite the continuing inflation risks. Today is watching the market, even more so today, many events that may affect the movement of the pair. So, on Friday it will be published a series of statistical data from Germany, the euro zone and the US, as well as finance ministers meeting and the heads of the Central Bank of the G7 countries.
RSI moved to growth from oversold levels. While MACD is moving horizontally, but the bars are down, indicating that the benefit of reducing the currency pair. The couple can develop upward movement after penetration level of 1.2901. If the pair will go to 1.2863 and lower, it will be important downward movement.
Commodity prices forecast for May 12
Yesterday, at the end of trading, gold rose to the level of 1227. Quotations for the precious metal back to the local level of 1225. As today is expected to publish data on US inflation, further dynamics of gold will depend on this release. Recovery of gold will prevent a high probability of a rate hike next month. Forecast for today implies an increase of gold in the area in 1230, with a further steer to the levels of 1227 and 1225.