GBP/USD overview for July 09 2015

9 July, 2015

General overview

As the United Kingdom has not published any important macroeconomic statistics, the market's attention was directed to the US Federal Reserve report, which, as it became known later, introduced nothing new. The Fed is still only gave promises to raise the rate. In addition, the sentiments were determined by the commodity and the bond market dynamics. It is worth noting that now both markets are against the British pound. The commodity market sales increased the dollar position, because the raw materials cost was denominated in the US dollar.

The pound fell against the dollar that was caused by the GDP negative data ( the manufacturing industry production volume).

The potential target for the price decline was the support level of 1.5430 where we expect a consolidation with a slight increase.

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 1.5460.

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 shows a downward movement and the Kijun-sen shows 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

The downward movement will be continued. The pair may go to 1.5300 soon. The next target will be 1.5200.


Source link  
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...


Pound initially moved downwards

As for long-terms the target range seems to be 1.34 but due to the recent concerns and news around UK it looks as much more time...

Gold makes attempts to go straight

Within Thursday session the gold was slightly following downtrend until got the support at 1260 range. Currently Gold makes...

XAUUSD seems to be surrounded

Investors seem to expect the reports and news which could turn on the volatility and upside breakout...


British pound continued varying

Resistance saves at 1.1300, support comes in at 1.1260. Bulls won't have that much unless...

Yellow metal returned to a growth

Buyers failed to reclaim 1260 and stepped back in the night. The price slightly eased and corrected to 1253...

Undertone for Gold was clearly positive

The undertone for Gold was clearly positive on Thursday. The spot was growing the first part...

  


Share: