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Technical Analysis Report - GBP/USD

14/09/2016 // 06:32:41 am

General outline:

Tuesday saw the pound lose some ground because of a weaker-than-expected Consumer Price Index.

Present scenario:

 The price breached the 50-EMA and tested the 100-EMA in the 4 hours chart. The 100-EMA is crossing the 200-EMA upwards. The current resistance is observed at 1.3360, the support rests at 1.3200.

MACD indicator is in the negative territory, that indicates sellers’ growing strength. RSI is moving towards the negative territory.

Trading commendations:

All eyes are right now at the support level 1.3200. The buyers may lead the price towards the 1.3250 region. The pair GBP/USD might extend its downward trajectory towards 1.3100 if it breaks the level 1.3200. 

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