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Technical Analysis Report - GBP/USD

15/09/2016 // 06:29:11 am

General overview

The market was neutral on Wednesday accepting the latest labour market data.  

Current situation

The pound strived to regain the level 1.3200 but the pair stopped its recovery slightly above 1.3200 in the European session. .Sellers returned the price below 1.3200. The price traded lower the 200-EMA in the 4 hours chart. The 100 and 200 EMAs are neutral, the 50-EMA is pointing lower. The current resistance is seen at 1.3200, the support exists at 1.3100.

MACD remained in the negative area. RSI is within the negative territory.

Trading recommendations:

Our analysts predict that the sellers' nearest target remained at the support level 1.3200. The second sellers' target is the level 1.3100.

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