GBP/USD: general overview on 26.05.2015

May 26, 2015

Current trend

Due to yesterday's banking holiday in the USA, major currencies did not trade actively, but volatility is expected to rise today. The GBP/USD rate may be influenced by data on US durable goods (15:30 GMT+3).   The index is forecast to drop significantly, which may weaken the dollar. Besides, statistics for US service sector activity and new home sales will be released at 17:00 GMT+3.

Support and resistance

On the H4 chart, technical indicators suggest that the downward trend will continue. Bollinger bands are diverging thus confirming a presence of the downtrend. The MACD histogram is in the negative zone, but its volumes are increasing gradually, which indicates sellers' growing influence.

Resistance levels: 1.5520, 1.5600, 1.5465, 1.5700.

Support levels: 1.5455, 1.5395, 1.5350.

Trading tips

Open short positions at the current price with the nearest target at  1.5395. A firm breakout will open a way to a level of 1.5350. Consolidation above the level of 1.5520 will suggest an upward movement. If so, buyers will attempt to assault the level of 1.5600.

Publication source
LiteForex information  LiteForex reviews

December 8, 2016
Banks guidance ahead of the ECB meeting
It seems that everything is clear the ECB will extend its asset-purchasing program, and send the euro lower. But banks smell a rat in this announcement. The ECB should introduce more easing measures...
December 8, 2016
Prepare for the ECB meeting outcome
The currency market has lost some volume, as traders are closing their positions ahead of Christmas and New Year’s celebrations. Investment funds are in no hurry to open new positions; they rather prefer to be actively trading in January...
December 7, 2016
Will ECB support Italy?
The yield of the Italian sovereign debt fell on Tuesday as the focus moved to the political uncertainty on the market. After Renzi’s crash on the weekend and the expectations of the ECB measures to deal with the possible fallout of the financial markets...

XTB Rating
OctaFX Rating
HYCM Rating
XM Rating
FIBO Group Rating
FXCM Rating

365BinaryOption Rating
Beeoptions Rating
OptionBit Rating
Banc De Binary Rating
Anyoption Rating
OptionsXO Rating