Tuesday, May 27 Market Profile British pound can be attributed to trend day. The British pound continued to weaken against the U.S. dollar, continuing a downward trend shaping its structure. Further put pressure on the pair of positive U.S. economic data, as well as the speech of the Bank of England. On the day the fair price protection zones are located in areas VAL - 1.6811 and VAH -1.6881. POC point of control was formed in 1.6858.
Forecast for today : In today's Asian session, the British pound was trading in a narrow sideways channel against the U.S. dollar. In the case of formation of the first prerequisites for growth, buyers will be kept an intermediate level of resistance in the POC from May 20- 1.6814, above which is a more focused level VAL May 21 - 1.6831 from which we will see a strong enough sales. If the bulls and not rest on it, the main aim of the day will be a test POC, May 26 - 1.6843 and POC yesterday- 1.6858. As for sales, the second wave of falling may be kept back support area POC May 16- 1.6790. Only after consolidation below can argue about reducing GBP/USD to new lows near POC May 15- 1.6766 and VAL on the same day- 1.6742. Farthest weekly goal now is the level of POC from April 15- 1.6721.
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