Technical Analysis Report - GBP/USD
01/08/2016 // 05:42:01 am
The pound strengthened its position on the support of the positive data. There is a growing pressure on the dollar over the Fed decision to not hike rates clubbed together with the poor Q2 GDP data.
The pound moved to a fresh 11-day high and the trading instrument gained more than 130 pips and set a new high at 1.3300. The current resistance is observed at 1.3300, the support lies at 1.3100.
MACD is in the positive territory. The histogram increased which indicates the strength of the buyers. Movement of the RSI towards the overbought area also indicates a buy signal.
The price breached the 100-EMA and stayed over it in the 4-hours chart. The moving averages lines with periods 50, 100 and 200 are trending downwards.
The GBP/USD is expected to grow on the back of a weak dollar. The level 1.3300 is the first target of the buyer.
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