Technical Analysis Report - GBP/USD
08/08/2016 // 05:45:43 am
On the backdrop of BoE's monetary easing program, which traders expects to support the economy , the sterling attempted to gain in position . But surprising U.S jobs data weighed on the pound which sharply declined.
The currency pair GBP/USD is in the negative zone. The pound fell below the support level of 1.3100 and built a lower low there. The current resistance is observed at 1.3100, the support stands in at 1.2900.
MACD displays a divergence. The decrease in the histogram points to the strength of the seller. RSI moved closer to the oversold area.
The trading instrument remained below the 50, 100 and 200 EMAs in the 4-hours chart. The price fell from the moving averages which are moving earthwards now.
We are expecting a 1.3100 break and then continuation of a fall with a target at the level of 1.2900.
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