GBP/USD forecast for May 25, 2015

May 25, 2015

General overview

The IFO institute weak release may put pressure on the pair EUR/GBP which will give some support to the British pound. The US April inflation data is based on the leading indicators and did not disappoint GBP/USD bears.

On the other hand, we have observed the UK short-term and long-term bond yields increase on the debt market which is a negative factor for the national currency.

There was a rebound from the upward trend line of 1.5460 after the two-days consolidation. The price rebound was on the highest volume, but the pair grew to the resistance level of 1.5670. then the pair rebounded downwards and tested the support level of 1.5460.

The price is finding the first support at 1.5460, the next one is 1.5390. The price is finding the first resistance at 1.5550, the next one is at 1.5670.

The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement and form a “Golden Cross”.

The MACD histogram is in a neutral territory. The price is decreasing.

Trading recommendations

We believe the decrease will be continued now. The first target is the level 1.5390, the next one is 1.5300.

Publication source
Fort Financial Services information  Fort Financial Services reviews

December 2, 2016
Oil may remain above $50
The Oil price continued to push higher today reaching its highest level in over a year with some predicting that the OPEC deal reached yesterday was a game changer and further gains are expected...
November 29, 2016
Euro may hit parity with US dollar
The Euro was under further pressure today against the US dollar on the back of political instability in Italy and, bringing it closer to parity with its American counterpart...
November 28, 2016
ECB speeches, OPEC rumours to dominate Monday
The US is back to the markets in full swing today as investors return from the long weekend and while this may have a major impact on the markets (given the fact that US bonds and US dollar had such a massive influence on global markets recently) other factors dominate in the calendar with the US being present...

Orbex Rating
HYCM Rating
FXCM Rating
XTB Rating
FBS Rating
OctaFX Rating

TropicalTrade Rating
Empire Option Rating
IQ Option Rating
Anyoption Rating
Binary Brokerz Rating
OptionsXO Rating