GBP/USD resumes its movement towards the level of 1.4685

March 17, 2015

GBP/USD, H4
Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, they are both turning downwards once again. Chinkou Span line is below the price chart; current Kumo-cloud is descending. After another correction the pair resumes its movement towards the level of 1.4685. The closest resistance level is Tenkan-sen line (1.4800).


GBP/USD, D1
On the daily chart Tenkan-sen line is also below Kijun-sen, however, the  blue line is horizontal, while the red one is directed downwards.. Chinkou Span line is below the price chart, current cloud is descending. The closest resistance level is Tenkan-sen line (1.4977). One of the previous minimums of Chinkou Span line is expected to be a support level at 1.4640.

Key levels
Support levels: 1.4685, 1.4640.
Resistance levels: 1.4800, 1.4977.

Trading tips
On the both charts Bearish trend is still strong. Targets for the short positions are 1.4685 and 1.4640.

Anastasiya Glushkova
Analyst at LiteForex Investments Limited

Publication source
LiteForex information  LiteForex reviews

September 23, 2016
Risk rating
The market is in need of a new narrative. The Fed meeting in December is too far off and for now, the US election is not something that entices excitement. With central banks on hold, markets are pushing the envelope in terms of risk...
September 23, 2016
Greenback regains some ground
On Friday, the evergreen buck regained some ground against other key currencies, as markets kept digesting the Fed’s latest policy decision...
September 23, 2016
Dollar rebounds slightly as precious metals are in a hot zone
The US Dollar rebounds after a substantial selloff led by the FOMC decision to leave the interest rate unchanged. The Dollar index, which tracks the US currency against major peers, recoiled with support at a 95.00 level on Thursday, adding 0.05% to the 95.36 price in the early Friday session...

FOREX.com Rating
OctaFX Rating
OANDA Rating
Larson&Holz IT Ltd Rating
XM Rating
FXTM Rating

Anyoption Rating
OptionRally Rating
Beeoptions Rating
EZTrader Rating
Grand Option Rating
OptionTrade Rating