GBP/USD analysis for June 12, 2015

12 June, 2015

General overview

The British pound was in demand amid the "black gold" price growth. The Brent crude oil has consolidated above the mark of $ 66 barrel amid the US inventories decline which is a negative factor for the US dollar. It should also be noted that the British pound is supported by the pair EUR / GBP quotations decrease.

The UK 10-year negative bond yields are declining relative to their US and Germany counterparts which is also a bearish factor for the pair.

Thanks to the two resistance levels of 1.5390 and 1.5460 breakthrough buyers have strengthened their position in this market.

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.

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 movment. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

We believe the growth will be continued now. The first target is the level 1.5550.


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Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...


Gold bounced from its upper limit

We expect the spot to retest 1240 in the short-term. Should sellers succeed they may lead the pair down to 1230. If the level stands the spot...

Gold price reached important target

The prices have reached their important target of 1260 and this was only a bounce and a correction of the downtrend...

Dollar setback due to recent PCE date

Today is last day of the month and FED's members speeches are to be announced therefore the market volatility growth is expected...


Gold has jumped to 1265 level

The resistance holds at 1280, support comes in at 1245.9. Major resistance is highlighted at 1295.4. Next target is set at 1350...

Gold prices bounced off

The spot was struggling to build onto the recovery during the night trades. Buyers lost their steam at 1265 where the pair found some fresh offers....

Golld turned around and reversed

The bullish trend remained intact on Tuesday. The price bounced from the upper limit...

  


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