GBP/USD The price is finding the first support at 1.4650, the next one is 1.4500

20 March, 2015

General overview
The 4th quarter payments balance weak release will increase pressure on the dollar. Traders significantly overestimated the UK labor market moderately negative release. The unemployment remained at the same level as the average earnings have declined, but the employment growth by the ILO methodology indicates the positive trend continuation the next months.
The pair pound/dollar has tested the strong resistance level of 1.5100 for its strength. The level testing was at the increased volume, but without breakthrough. The pair rebounded downwards and broke through the support levels of 1.5015, 1.4920, 1.4800.
The price is finding the first support at 1.4650, the next one is 1.4500. The price is finding the first resistance at 1.4800, the next one is at 1.4920.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The downward movement will be until the price is under the Cloud.
The MACD histogram is in a negative territory. The price is decreasing.

Trading recommendations
We believe the falling will be continued now. The first target is the level 1.4650.

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