GBP/USD overview for July 17 2015

July 17, 2015

General overview

The unemployment rate in Britain increased by 0.1% at the end of May. The core inflation is at 0.8%, the unemployment rate is at 5.6%. We can forget about the rate increase for a while with such statistics.

The Bank of England Governor Mark Carney's made his speech yesterday still there was no reaction at the market after his speech.

The short-term resistance level of 1.5670 stopped the upward pound trend. The level test has led to the downward correction formation that is aimed to support level of 1.5550.

The price is finding the first support at 1.5550, the next one is 1.5460. The price is finding the first resistance at 1.5670, the next one is 1.5775.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

The potential rebound targets are the resistance levels of 1.5670, 1.5775.

Publication source
Fort Financial Services information  Fort Financial Services reviews

December 2, 2016
It's not the jobs numbers
It’s not bee the economy that has been driving the dollar over the past 3 weeks, of that we can be pretty sure. Rather, it’s been expectations of tax cuts and spending increases, together with incentives for dollar repatriation under the new President...
December 2, 2016
OPEC alliance stuck a global agreement
The Oil prices jumped on Wednesday after the organisation members agreed to pare production first time since 2008, to reduce global oversupply, which made the prices collapse by half since mid-2014...
December 2, 2016
Rebound continues in UK construction
The latest data on the UK construction sector was released this morning, and will likely be seen as positive overall as the recovery from the Brexit shock appears to be persisting. Despite this the FTSE 100 is under pressure this morning...

OctaFX Rating
OANDA Rating
FxPro Rating
Trade360 Rating
XM Rating
HYCM Rating

IQ Option Rating
24option Rating
OptionFair Rating
Grand Option Rating
OptionsXO Rating
Beeoptions Rating