IGTFX technical analysis, IGTFX, The GBP dropped versus 11 of its 16 most traded counterparts and the AUD could continue its bullish trend versus the most counterparts. IGTFX, Furthermore we are going to report about some economic data from the European Zone. IGTFX,
IGTFX, Market Review – IGTFX, Fundamental Perspective
IGTFX, A report in the U.K. showed yesterday, IGTFX, that the growth for IGTFX, U.K service companies is weaker than expected. IGTFX, This increases speculation that the economic recovery runs slower than in other European countries. IGTFX, The GBP fell against the USD 0.4% and traded near 1.5211. IGTFX, Furthermore the GBP snapped a seven day gain versus the EUR and dropped to 0.8755. IGTFX, Also the other major counterparts could climb against the GBP. IGTFX, There are a lot of economic data which let the GBP shrank. IGTFX, The service gauge slipped to 56.5 in March from 58.4 in February. IGTFX, A separate survey showed that the Bank of England may keep its main interest rate at a record low of 0.5% tomorrow. IGTFX, The next increase might happen in November or December this year and then up to 0.75%. IGTFX, The confidence about sales at manufacturers dropped in the first quarter. IGTFX,

IGTFX, The AUD could continue its upward trend today and traded at almost its highest level in more than 18 months versus the JPY after the Bank of Japan kept its benchmark rate near zero. IGTFX, The JPY dropped 0.5% and reached 87.52, IGTFX, the highest level for the AUD since September 2008. IGTFX, Furthermore the EUR and the USD couldn’t increase versus the AUD and traded at the same level as yesterday. IGTFX,

IGTFX, The NZD traded unchanged against the USD and the JPY. IGTFX, The NZD reached 0.7076 versus the USD and 66.22 against the JPY. IGTFX,

IGTFX, In Europe, the economy unexpectedly stagnated in the fourth quarter of the last year as the companies cut spending more than expected. The European Union`s statistics office announced yesterday, IGTFX, that the gross domestic product in the 16-nation euro region remained unchanged compared with the third quarter, IGTFX, when it rose 0.4%. IGTFX, Corporate investments dropped 1.3% instead of the expected 0.8%. IGTFX,

IGTFX, Daily Technical Analysis - IGTFX, Our Focus Currencies for Today
EUR/GBP (1 Hour)

IGTFX, As you can see, the EUR is trading in a bearish trend channel versus the GBP. Currently, IGTFX, the currency pair broke its support level around 0.8766 and it looks like there wouldn’t be further supports. IGTFX, Only an increasing Momentum may indicate a pull back for the EUR. IGTFX,

IGTFX, Intraday Support & IGTFX, Resistance (H1) IGTFX, Support Levels around Resistance Levels around
IGTFX, N/A IGTFX, 0.8808

GBP/USD (1 Hour)

IGTFX, Since the last two weeks, IGTFX, the currency pair has been trading in a bullish movement. IGTFX, Two days ago, IGTFX, the GBP touched its upper Fibonacci retracement and the prices rebounded. IGTFX, Now it could be that the prices will fall to its important Fibonacci line near 1.5134 (61.8%) again. IGTFX, A crossing Stochastic Indicator through the signal line from the bottom may indicate a trend reversal. IGTFX,

IGTFX, Support & Resistance IGTFX, (H1)Support Levels around Resistance Levels around. IGTFX,
IGTFX, 1.5135 IGTFX, 1.5276
IGTFX, 1.5079 IGTFX, 1.5317
IGTFX, 1.4986 IGTFX, N/A