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.


Source link  
CBs refrained from changes

ECB economists now expect that the euro area economy will grow by 2.3% in 2018, well above the expected growth of 1.8% growth forecasted back...

Asian stock indexes drop

Equity indexes in Asia were mainly lower in late hours on Wednesday, as investors’ sentiment was affected by a weak close on Wall Street...

Market sentiment is improving

On Tuesday, global markets were able to change the mood and moved to gain, with some of the European markets recovering all Monday's losses...


Global markets consolidate

At the beginning of the week, the global market sentiment remains restrained, as stock markets are under pressure despite the start of the...

OPEC's output cuts extension

The oil market will be in focus in the next few days as the Organization of the Petroleum Exporting Countries and a group of independent producers...

Black friday: how do they affect markets?

While for some people Thanksgiving may still be a day to thank ‘god’ for the blessing of the harvest (office jobs also apply?), nowadays is a holiday...


Asian markets are mainly quiet

Asian markets were mainly quiet on Thursday, following a calm session on Wall Street as market participants digested FOMC minutes and looked...

Euro extended its bullish momentum

The line rejected the pair which eased towards 1.1650 afterwards. If the price breaks below 1.1650 sellers may push the euro to 1.1600...

Gold trades mixed in a narrow range

However, the level 1280 is on its way and won’t let the spot further. A rebound from 1270 pointed to strong buyers who will not give up their attempt...

  


Share: