Technical Analysis Report - GBP/USD
19/09/2016 // 03:45:46 am
The pound continued to remain under stress as the BoE kept the option open for another rate cut to boost the economy if necessary.
The GBP/USD remained in red and the bears maintained control over the market. The price lost its recent gains and breached the level 1.3200, 1.3100 and touched 1.3000 at the close of trade.The current resistance is observed at 1.3100, the support stands at 1.3000.
MACD is in the negative territory. MACD remained at the same level which confirms the strength of sellers. RSI reached the oversold area.
Our analysts believe that the pair if manages to make a breakout of the support 1.3000 the price will continue its declining trajectory. We do not exclude a correction towards 1.3100 – 1.3150 after a rapid decrease.
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