GBP/USD overview for August 17, 2015

17 August, 2015

General overview

At the end of the day the US and the UK 10 years government bond yields reached the maximum level the last trading week which is a "bearish" factor for the British currency.

The Commodity Futures Trading Commission last week report will show the total “pure” position dramatic decrease for the pound sales.

A little before reaching the resistance level of 1.5670, the pound upward trend was reversed for the short-term correction. After a short-term consolidation the pair grew again.

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

The buyers need to break above 1.5670 for a steady growth. The way to the mark 1.5775 will be opened after this breakthrough.


Source  
US-China trade relations in focus13 Nov, 2019  

On Monday, Asian markets traded mainly in the red zone. Investors reacted negatively to Donald Trump's comments that the United States and...

Demand for gold grows amid growing tensions9 Oct, 2019  

Gold is gradually recovering its previously lost positions amid falling expectations of investors regarding the results of a new round...

Asian markets higher, oil rally goes on10 May, 2018  

Oil prices extended gains in early trading hours as expectations for further reductions in global supply levels continued to build following Donald...


What's behind the oil rally?9 May, 2018  

The oil market has been going crazy in the last few days. On Monday, the US West Texas Intermediate crude for June delivery rose nearly 1.5 percent...

If Buffett is not investing on bitcoin...7 May, 2018  

Last week we have spoken about Warren Buffett's dislike for Bitcoin and the whole cryptocurrency world. Fine... it is not that he doesn't like it...

Equity indexes mixed in Asia3 May, 2018  

Markets in Asian traded mixed on Thursday as investors digested a widely anticipated interest rate decision by the US Federal Reserve while looking...


Asian stocks extend gains30 Apr, 2018  

Asian equity markets were mostly higher on Monday, with investors focusing on geopolitical tensions over the Middle East while keeping an eye...

Equity indexes in Asia rise24 Apr, 2018  

Asian equity indexes moved into green territory on Tuesday despite a weak lead from Wall Street on the back of higher Treasury yields and as traders await...

Trading activity is on the lowest20 Apr, 2018  

The light news flow and a break in US-Chinese trade rhetoric give the equity markets a positive momentum amid so far positive reporting season in the US...