UK GDP was published yesterday. Britain’s economy avoided a triple- dip recession in the first quarter with expansion that exceeded specialists’ forecasts. GDP grew 0.3% in the first quarter, while the expectations were for a 0.1% rise.
Today at 16:30 GMT+4 US GDP in the first quarter is published, forecast 3.0%-3.1% vs. 0.4% in the fourth quarter. We expect the growth continues.
Technically, when the resistance of trendline on the H4 (1.5490) is broken, the first target 1.5522 opens. It is the level of conjunction of trendline and the level of Fibonacci 236% on the daily chart. The second target 1.5550, the resistance of trendline on the H4. The third target is 1.5588, trendline on the daily chart. Taking into account the fact that the target 1.5550 is the boarder of uptrend on the H4, the rebound is probable from this level.
