The pound has been consolidating above the support level of 1.4800 the whole previous week

March 31, 2015

General overview
The UK will not please traders with the interesting macroeconomic releases and in this regard, the traders’ attention will be drawn to the statistics from overseas. Leading indicators point out to the personal consumption expenditure weak data which is a negative factor for the US dollar. The low domestic demand indicates the weak GDP and therefore the dollar loses drivers for the quotations growth.

The bond market also confirms the bullish trend for the British pound - the UK 10-year bond yields are growing in relation to the United States and Germany ones which is a positive factor for the pound.

The pound has been consolidating above the support level of 1.4800 the whole previous week. The short-term tests were on reduced volume and were followed by the small rebounds upwards.

The price is finding the first support at 1.4800, the next one is 1.4650. The price is finding the first resistance at 1.4920, the next one is at 1.5015.

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 neutral territory. The price is correcting.

Trading recommendations
We expect the 1.4800 line break that will open the way towards 1.4650.

Publication source
Fort Financial Services information  Fort Financial Services reviews

October 24, 2016
Gold prices edged lower
Gold prices traded mixed on Friday. The yellow metal traded lower the half of the day and higher the other half. Sellers moved the price to the level 1260 dollar per ounce which appeared a solid barrier for it. The pair bounced from the level and reversed some of its losses...
October 24, 2016
Earnings and Macro data to drive financial markets the week ahead
A pretty robust U.S. corporate announcements last week indicated that there’s a high chance for corporate America to get out of a profit recession which lasted for five consecutive quarters...
October 21, 2016
Gold prices drop in Asia amid stronger greenback
On Friday, gold dropped during Asia trade amid a strengthening greenback as well as surging chances of a rate hike weighing on the hedge commodity...

FXCM Rating
HYCM Rating
OctaFX Rating
FxPro Rating
OANDA Rating
FBS Rating

Empire Option Rating
Grand Option Rating
OptionRally Rating
Banc De Binary Rating
EZTrader Rating
TropicalTrade Rating