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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Euro met an obstacle around 1.1700

The spot recovered to 1.1750 where the euro spent the first part of the night. An increased selling pressure weighed on the major in the mid-Asian session...

Gold keeps losing ground

The previous upward momentum lost strength at 1330 dollars per once. After facing selling resistance at the level the pair turned around and softened...

Gold started week with a gap downwards

The precious metal is around the lower boundary of the upward channel now. If sellers remain in the driver’s seat the spot may continue...


XAU/USD pair keeps its buy mode intact

The spot broke above previous day’s top and climbed to 1355 over the night trades. Gold is likely to continue its growth. Buyers aim at 1360 now...

Rebound from 1280 lifted gold prices

The spot jumped to 1290 and broke the level soon after testing it. As the most probable scenario, we consider further moving upwards towards...

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...

  


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