On Tuesday, the following strong calendar news comes out:
- 9:30 PM London time. GBP, average wage level including premiums in February is expected at 3.0% versus previous value 2.8%;
- 9:30 PM London time. GBP, change in the number of applications for unemployment benefits in March is expected at 13.3K versus the previous value of 9.2K;
- 1:30 PM London time. USD, the number of building permits issued in March are expected at 1.339M versus the previous value of 1.321M.
Trend analysis (Figure 1).
On Monday, the price continued to work out the top. On Tuesday, the market would likely to continue moving up. The complex analysis will accurately determine the direction of the price.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes - down;
- candle analysis - down;
- trend analysis - up;
- Bollinger lines - up;
- Weekly schedule - up.
General conclusion:
On Tuesday, the GBP / USD pair is trailing the upward movement with the initial target 1.4421, which is the resistance line.
* The presented market analysis is informative and does not constitute a guide to the transaction.
