Technical Analysis Report - GBP/USD
07/09/2016 // 09:17:52 am
The currency pair GBP/USD is displaying a positive sentiment in the market because of a strong Services PMI in the country. Moreover, the sterling rose supported by a weak U.S Non-Manufacturing PMI on Tuesday.
The pair remained in positive territory on Tuesday. The instrument moved northwards and broke the 1.3360 in the North American session.The 50-EMA rebounded from the 100-EMA and crossed upwards the 200-EMA generating a buy signal. The current resistance is observed at 1.3500, the support stands at 1.3360.
MACD displays a convergence in the 1-hour chart. RSI moved to the overbought area.
Our analysts believe that we will take into account a continuation of the downtrend towards 1.3200. To trigger additional upward momentum the GBP/USD needs to consolidate over 1.3360.
29/09/2016 // 07:44:21 am
Pound was weighed by Shafik’s dovish comments (the BOE deputy) as
29/09/2016 // 07:41:12 am
On wednesday, the US currency dollar rose because of profit fixati
27/09/2016 // 10:33:13 am
The dollar remained under pressure against its major rivals as stocks