GBP/USD: forecast for 17.06.2015

June 17, 2015

General overview

The UK consumer price index rose up again by 0.2% in May on the month basis as the previous month. The value is in line with expectations. The labor market indicators point out to the consumer prices increase there was the unemployment decrease and average earnings increase in the beginning of spring. The Bank of England indicated that inflation would be negative in the short term.

From the technical point of view, the upward trend remains stable due to the resistance level of 1.5550 breakthrough.

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

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement. The upward movement will be until the price is above the Cloud.

The MACD histogram is in a positive territory. The price is increasing.

Trading recommendations

The pair can grow to the resistance level of 1.5670. After breaking 1.5670 the buyers may go to 1.5775.

Publication source
Fort Financial Services information  Fort Financial Services reviews

September 23, 2016
Gold rises to critical level on lower-for-longer policy signals
The price of gold extended its rebound modestly on Thursday after the US Federal Reserve provided some key signals on Wednesday that, despite a considerable probability of one Fed rate hike by the end of this year...
September 22, 2016
Moving on from the Fed
The reaction seen in currency markets yesterday to respective central bank policy decisions was instructive of the change in dynamics that we’re seeing. The BoJ enacted a number of changes to its policy regime...
September 21, 2016
Bank of Japan runs out of road
The Bank of Japan delivered a whole heap of nothing at its policy meeting today, although some adjustments were made to its policy framework. If you take the time to read through these measures, then the impression is of a central bank that has largely lost the monetary plot...

FIBO Group Rating
FOREX.com Rating
HotForex Rating
FxPro Rating
OANDA Rating
FXCM Rating

Porter Finance Rating
OptionTrade Rating
Beeoptions Rating
OptionBit Rating
24option Rating
OptionFair Rating