Fundamental analysis and forecast GBP/USD to 28.12.2015

Investors are taking profits on short positions GBP/USD on the background of a moderately positive background. According to the results of last week on the debt market yields on government bonds in the UK 3 b.p. increased relative to their counterparts from the USA and Germany, which increases the attractiveness of investments in British assets and thus, will promote the demand for pound sterling.

One can not ignore the bullish mood on “commodity market”. Unexpected strong decline in commercial crude oil stocks in the USA (5.87 million barrels) made it possible to stabilize the situation on the market of “black gold”. Baker Hughes also reported on the reduction in the number of working drilling rigs in the States for 3 units, to the level of 538. Not the best way things are in the States of Arkansas and Utah, where there are one and three drilling units. A year earlier in these two States worked twelve and twenty-three rigs, respectively. Consequently, market participants started to close short positions ahead of the Christmas holidays, which allowed commodity CRB index to finish the week in the green zone, traditionally a negative factor for American currency.

Against this background, in the first half of the day should be opened Buy position on the decline of quotations in the area of 1.4900/1.4865 and fix profit at the level of 1.4990.

Source: FreshForex

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