Technical Analysis Report - GBP/USD
02/09/2016 // 04:48:17 am
The pound gained hold of the market on the support of strong Manufacturing PMI in the UK.
Positive Manufacturing PMI supported the GBP/USD pair as the price rose from the session lows at 1.3130 to the daily highs at 1.3270. The instrument moved closer to the 1.3360 at the start of the North American session.
The market saw the pair approaching the 200-EMA and moved north in the 4 hours chart. There is a downward movement of moving averages direction. The lines are displaying a sell signal. The current resistance is observed at 1.3360, the support stands at 1.3200.
The growth in the MACD displays the weakening positions of the sellers. RSI moved closer to the overbought area.
The analysts believe the uptrend pressure will continue towards 1.3360. Else, the price will move below the 1.3200 and further below 1.3100.
29/09/2016 // 07:44:21 am
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29/09/2016 // 07:41:12 am
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27/09/2016 // 10:33:13 am
The dollar remained under pressure against its major rivals as stocks