The pound softened on the weaker-than-expected Consumer Price Index

September 14, 2016

The British pound had a negative day on Tuesday. After a brief consolidation at 1.3330 during the Asian hours the sterling continued moving lower in the European session, the day low was marked at 1.3225. The price broke the 50-EMA and tested the 100-EMA in the 4 hours chart. The 100-EMA is crossing the 200-EMA upwards. The current resistance is seen at 1.3360, the support exists at 1.3200.

MACD indicator is in the negative territory, that indicates sellers’ growing strength. RSI is moving towards the negative territory.

Trading recommendations

All eyes are right now at the support level 1.3200. The pound might bounce off the level. In this potential scenario buyers will lead the price towards the 1.3250 region. The pair GBP/USD might extend its downward trajectory towards 1.3100 if it breaks the level 1.3200.В 

Publication source
Fort Financial Services information  Fort Financial Services reviews

October 26, 2016
Greenback is powered by Fed rate expectations
On Wednesday, the US dollar was backed by hopes that American interest rates will edge up by the year-end. It stood flat during Asia trade, just below a nine-month high reached overnight, while the Australian dollar earned as inflation data doused the probability of a rate drop there...
October 26, 2016
Rising rate hike odds push Dollar
The Greenback extended its rally to a nine-month high against other major peers against the rising bets of a FED tightening in December. As rumors are circling the next US leader saying that they will shift the stimulus burden from FED via changes in the fiscal policy...
October 26, 2016
Gold futures edged higher on Tuesday
The XAU/USD pair traded flat on Tuesday. The price remained between 1270 and 1260 dollars per ounce during the day. Gold prices struggled to find support around 1260. Sellers failed to break the level and the yellow metal bounced upwards and recovered to the upper boundary of the range...

Vantage FX Rating
FXTM Rating
Grand Capital Rating
FXCM Rating
HotForex Rating
FBS Rating

Porter Finance Rating
365BinaryOption Rating
Anyoption Rating
Banc De Binary Rating
Empire Option Rating
Binary Brokerz Rating