GBP/USD forecast for August 05, 2015

August 5, 2015

General overview

The Bank of England will announce its key interest rate decision on Thursday, the 6th of August and at the same time it will publish the meeting minute. Undoubtedly, the regulator tendency to increase the key rate will put upward pressure on the pair GBP/USD.

We can observe the pound decline against the US dollar amid the weak volatility and low volumes reduction. The price decline was close the strong support level of 1.5550. Then the pair showed an upward rebound.

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 1.5775.

There is a non-confirmed and a weak buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen shows a horizontal movement and form a “Dead Cross”. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

The pair can grow to the resistance level of 1.5775.

Publication source
Fort Financial Services information  Fort Financial Services reviews

December 7, 2016
Oil ma pull back to $40
The oil price fell for the first time in 4 days today as skepticism creeped in over some OPEC member’s commitment to keep to their end of the deal and cut production...
December 6, 2016
Shale sector tries to reap the gains of the OPEC deal
The prices extend gains after OPEC’s output cut deal brings short-term optimism. Forward market shows that the US oil producers are rushing to lock the profit, selling oil contracts for above $50 a barrel at the start of 2018...
December 5, 2016
Crisis Lite
The Italian referendum on constitutional reform saw voters reject the proposals in front of them, in a fairly decisive manner. As such, Italian PM Renzi will tender his resignation today and this became part of the issue...

OANDA Rating
Tickmill Rating
XTB Rating
Grand Capital Rating
OctaFX Rating
FxPro Rating

24option Rating
Anyoption Rating
Binary Brokerz Rating
Beeoptions Rating
OptionFair Rating
Empire Option Rating