GBP/USD review for June 05, 2015

5 June, 2015

General overview

The Bank of England announced the monetary policy meeting results. Traders did not expect any changes. The monetary regulator has repeatedly stated that it was ready to ease the monetary policy in case of the deflation risk, but now the situation is generally stable. During the first summer days the UK 10-year government bond yields showed an increase that point out to the UK inflation expectations growth.

The pound showed a strong growth but now we observe a slight decrease.

The price is finding the first support at 1.5300, the next one is 1.5200. The price is finding the first resistance at 1.5390, the next one is at 1.5460.

The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement.

The MACD histogram is in a neutral territory. The price is decreasing.

Trading recommendations

We believe the decrease will be continued now. The first target is the level 1.5300.


Source link  
Gold remained well offered

The XAUUSD pair came under intense selling pressure on Thursday. The spot pushed away...

Brent oil prices maintained their negative bias

Sellers broke 55.50 and remained within the level in the night...

Brent oil prices remained in an upward channel

However, the benchmark softened to its lower band...


Brent oil prices gapped higher

A strong energy demand in the Asian region supported oil prices despite a rebound in Libyan oil production which still weigh...

Gold prices weakened

The undertone for Gold was clearly positive. However, buyers failed to retake 1260 on Monday. The level rejected the price downwards...

Gold prices retreated from three week high

Buyers attempt to reclaim 1250 dollars per ounce on Wednesday failed. The price just touched the level and immediately...


Gold prices remained in green

Gold prices were neutral staying in a flat on Friday. After the recent rally buyers preferred to consolidate their gains. The 4 hours chart showed that the price was trading around the 100 and 200 EMAs...

Gold received a minor support

The night recovery stalled around 1205 dollars per ounce. After reaching the mentioned mark gold futures...

Gold prices were neutral on Tuesday

Gold prices were neutral on Tuesday flirting with the 1200 handle in the early trades. The yellow metal was moving back and forth in a tight range between 1205 and 1200 the first part of the day. A fresh buying interest emerged in the late European session. The spot pushed away from 1200...

  


Share: