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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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...

Gold prices remained in a consolidation phase

Sellers led the spot to 1250 the other day but failed to break below the level. The price remained sandwiched between 1250 - 1255...

DAX grew amid a fresh buying interest

European stocks opened in green when markets recovered from Trump’s failure in Congress. Investors focused on Brexit...


Pound reached its monthly high

The pound remained in an upward channel on Tuesday. The price pulled back from its upper limit...

Brent maintained its ask tone

Sellers continued driving the benchmark lower after a brief pause at 50.80 dollars per barrel...

Gold prices remained in green

The bullish market structure remained in place on Thursday...

  


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