GBP/USD overview for June 26 2015

26 June, 2015

General overview

Three trading days has shown the pound's weakness, the current levels look attractive for the medium-term investors who are counting on the upward trend continuation. However, the debt market dynamics shows a mixed background - the British 10-year Treasury bonds profitability has been lowering against the US Treasuries and is growing to German bonds.

The Pound continued its downward correction relative to the US dollar. After three days of a corrective decline the pair broke the strong support level of 1.5775 and tested the level of 1.5670. Then the pair slightly corrected upwards.

The price is finding the first support at 1.5670, the next one is 1.5550. The price is finding the first resistance at 1.5775, the next one is 1.5950.

The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Dead Cross”.

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

Trading recommendations

The potential decrease targets are two levels of support: 1.5670, 1.5550.

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Gold price sharply dropped

Buyers continued to struggle with 1290. However, all their attempts faced sellers' resistance around the hurdle. The level rejected the price...

Sellers continued to dominate

The euro bounced from 1.1750 and weakened to 1.1700 during the night and morning trades. The resistance resides at 1.1750, the support comes in at 1.1700...

Gold prices extended their recovery

XAU/USD pushed away from 1260 and rallied towards 1270 dollars per ounce. The resistance exists at 1270, the support stands at 1260 dollars per ounce...

Gold prices turned around

Gold prices turned around when the spot reached 1265. Sellers drove the price to 1255 where they lost momentum. The precious metal returned to 1265...

Gold bounced off 1210 and rallied to 1220

The spot remained in a downward channel and just approached its upper boundary. The level rejected the price in the late European session...

Gold prices continued to consolidate

The weakness in the stock markets has helped to keep the prices buoyed but as the markets recover, we should see the gold prices come under pressure...

XAUUSD going downwards

Taking that into consideration looks as the market demonstrates its intention of sell-off start soon. Resistance is hold at 1250...

XAUUSD was moving aside

In order the long-terms traders are come back here the price might easily reach...

Pound continues to reach its heights

On Monday the British pound was going lower at opening...