Last minute burning forecast 19/10/2017

Last minute burning forecast 19/10/2017

GBPUSD - upward.

Strong data on the economy of Britain and the Fed's weak report pushed the pound upward.

In recent days, strong data have emerged for the pound: unemployment in England at multi-year lows; inflation, on the contrary, is breaking records in recent years. The Bank of England is forced to make a statement about its readiness to hike the rate - despite the extremely difficult negotiations on Brexit.

As for the second currency of the GBPUSD pair - the US dollar. On Wednesday, the Fed in its "Beige Book" report made the most soft statements on the economy - no chance of accelerating the tightening of monetary policy in the coming month.

Therefore, the pound should grow.

Buy the GBPUSD pair from the kickbacks - buying from 1.3150 and below.

Key support is at the main trend line 1.3090.

Signal for cancellation of buying - a breakthrough down 1.3030 and fastening below this level.

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The material has been provided by InstaForex Company - www.instaforex.com