hsbc.co.uk：The Pound Analysis/ July 15

The analyst of hsbc.co.uk said:GMT ( Greenwich mean time ) 0200, China's second-quarter gross domestic product (GDP) data announced would affect the currency movements. Dollar sentiment on the rise, the bank of England's loose monetary policy position, and the pound selling caused by EUR/GBP on the rise resulted in pressure-bearing of GBP/USD. The UK Rightmove released the home price index which went up by 0.3%, average asking price for homes

rose to a new record 253,658 pounds so that the pound sentiment is remitted. The warming risk appetite among investors would restrain rate slump.

Daily oscillators are still expected to rise. Stochastics in oversold zone rose. MACD histogram below the zero line is contracting, while the K-line chart went inside last Friday. Support level lies at 1.5074 dollars(low level of Last Friday). They would drift down to 1.4997(low level of Last Thursday) if lost. Then we should pay attention to 1.4968 dollars(hour chart), 1.4843 dollars(low level of Last Wednesday), 1.4812 dollars(the Lowest level on three years reached in last Tuesday), 1.4686 dollars( the low level in June 22, 2010) and 1.4549 dollars( the low level in June 14, 2010). Resistance lied at 1.5187 dollars( the high level of last Friday), then it was looked back to 1.5222 dollars( the high level of last Thursday). It lied at 1.5302 dollars( the high level of July 3) if been broken, then it was looked back to 1.5346( the high level of July 27), 1.5440 dollars ( the high level of July 26), and 1.5476 dollars ( the high level of July 25). /hsbc.co.uk bank /Mei Zhu