On Friday the British pound grew moderately amid the trends on the market. Meanwhile, continuation of growth is expected today amid positive pertaining to solution of Cyprus’ problem.
Today at 13:30 GMT+4 data on UK BBA Loans for House Purchase in February is issued, forecast is 33.6K against 32.3K. Britain places 10-year and 30-year yields.
At 21:15 GMT+4 Mervyn King, Governor of the Bank of England, delivers a speech simultaneously with Ben S. Bernanke.
Technically, we expect the Fibonacci extension will be tested on the H4 in the area of interjection with Fibonacci level 314% - 1.5286, then the level of Fibonacci 314% - 1.5308. The third target is the range of the Fibonacci levels on the H4 271% - 261.8% -1.5370/85, which on the H4 corresponds to the level of interjection of Kruzenshtern line (blue sliding) with the trendline.
