GBP/USD: general analysis on 29.09.2014

September 29, 2014

Current trend

The pair GBP/USD is still traded in the downtrend, which has started last week. Throughout this period the Pound fell by 250 points against the USD. Releases of important news, which can affect movement in the pair GBP/USD, are not scheduled for today, 29 September. Meanwhile, market participants will receive information on the number of mortgage approvals in the UK (11:30 GMT+3), and index of private consumption expenditure in the USA (15:30 GMT+3).

Support and resistance

Technical indicators show that downtrend will continue. Bollinger bands are directed downwards; MACD histogram is in the negative zone and its volumes are rapidly increasing.

Resistance levels: 1.6250, 1.6300 and 1.6340.

Support levels: 1.6210, 1.6160 and 1.6120.

Trading tips

It is likely that the pair GBP/USD will continue to decline slowly. Sell positions can be opened at the current price with the nearest target of 1.6200. In case of breakdown of the level of 1.6200 the pair can go to 1.6160 or even to 1.6120.

Publication source
LiteForex information  LiteForex reviews

December 9, 2016
Gold is tired of moving in the range
On the daily chart of gold, the bears remain control over the market. As long as quotes are below $ 1,195, their positions are not under threat. The update of the December low can lead to the continuation of downward movement towards $1,116...
December 9, 2016
Oil prices ignored bigger-than expected drop
After an Asian consolidation oil prices moved higher on Thursday. The price slightly grew and reversed the minor part of its losses. The benchmark approached 53.50 post-Europe open. The price stayed below the 50 and 100 EMAs in the 1 hour chart...
December 9, 2016
EURUSD Trades Below Significant Resistance
The Italian referendum weighed on EUR/USD, fell to a year low of 1.0506 on 5th December. It was followed a quick recovery, as a result of the rebound of the Euro after testing the significant support level at 1.0500. Yet it retraced after testing the significant resistance level at 1.0800...

FBS Rating
Tickmill Rating
Fort Financial Services Rating
HYCM Rating
XTB Rating
HotForex Rating

OptionBit Rating
OptionRally Rating
OptionsXO Rating
Binary Brokerz Rating
Beeoptions Rating
24option Rating