GBP/USD(a 4-hour chart) -Technical Analysis for 18.07.2016
18/07/2016 // 10:31:04 am
The BoE has kept its rates unchanged, but the regulator has kept the doors open for changes in the month of August. The news retained some risk appetite in the market
The mood of the market is still negative. The pound declined from a two-week high on Friday when the U.S. data encouraged the dollar across the market. The pound lost about 1.20% during the activities of the day. The current resistance is seen at 1.3300, the support lies at 1.3100.
MACD indicator declined. If the histogram penetrates the negative territory, it will indicate the growing strength of the seller. Indicator RSI recovered from the overbought area that supports the sellers.
Currently, the instrument is locked in-between the bearish 100-EMA and the 50-EMA. The moving averages (50, 100 and 200) direction is downhill.
The pair remain bearish on the perspective for the currency. A decline from the current support of 1.3100 would suggest a restart of the bearish trend.
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