Technical Analysis Report - GBP/USD
27/07/2016 // 05:25:12 am
The pound came under pressure from the revived hope in the market that the BoE would decrease the rate in the month of August.
The pound remained almost constant yesterday. The trading instrument remained at the support level of 1.3100, swinging during the course of the day. The current resistance is observed at 1.3300, the support lies at 1.3100.
MACD is in the negative zone, the indicator is very near to the centreline. If the histogram continues to exist in the negative zone, it will indicate the strength of the seller. If MACD comes back to the positive area, the buyers will control the hold of the market. RSI is neutral.
The downward movement of the 50, 100 and 200 Day EMAs formed a bearish cross-re over in the 1-hour chart. The instrument stayed below the 50-EMA in the 4-hours chart. The direction of the movement of the 100 and 200 EMAs is downwards, the 50-EMA remained horizontal.
If the pair moves below the 1.3100 level, it will fall towards 1.2900. Alternatively, the Sterling will move upwards to 1.3300 level.
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