GBP/USD overview for Agust 03, 2015

3 August, 2015

General overview

During the day the British pound can show the quotations moderate growth. There was the UK securities bond market increase in relation to its US and Germany competitors. The UK and Germany bond yields once again exceeded the level of 131 bp which will put pressure on the pair EUR / GBP and support demand for the British currency against the US dollar.

According to the economic calendar, the UK Gfk consumer confidence index has fallen: 4 instead of 7, although it was expected 5.

For a long time the British pound has been trading below the strong resistance level of 1.5670. All attempts to break through above the level were followed by the prices rebound downwards.

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

The price is just above the Cloud. The Tenkan-sen and the Kijun-sen show a horizontal movement.

The MACD histogram is in a positive territory. The indicator is decreasing.

Trading recommendations

If the price remains below 1.5670 the downward movement will be continued. The targets are 1.5550 and 1.5460.


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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...

  


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