Forex: Technical analysis 12/03/13

GBP/USD

News background:
The British pound remained under pressure amid weakness of the UK economy with the additional pressure it receives by becoming ever more positive attitude of investors to the U.S. currency due to expectations of rising rates of economic recovery.

Technical picture:
Pair is below 1.4900, and in the lower Bollinger under EMA 5 and EMA 21. The RSI is below 50%, and points to the continuation of the downward trend, and the oscillator Stoch. crosses the level of 50%, which also indicates the probability of gain reduction pair.

Trading recommendations. Sell ​​pair for any growth to 1.4650.
 
Technical analyst at Forex Bulygina Marina
Analytical department of Grand Capital