GBP / USD: Pound continues to try to strengthen
Current trend
By
the results of last week, the British pound strengthened against the US dollar,
update their local highs since the beginning of July. The reason for the appearance of the "bull"
dynamics became the general instability of the US dollar, which rapidly react to
various macro and news publications.
British
currency backed unexpectedly strong statistics on consumer price inflation in
Great Britain. However, after very weak in terms of volume of retail data
sales, "bullish" activity became noticeably weaken. At the beginning of the new trading
Time is too slow to pound with the growth.
Support and resistance levels
Indicator
"Bollinger Bands" on the daily chart is growing smoothly, the price
range is expanded but still remains quite close to the British
currency. At the moment, the indicator gives a weak sell signal. there is
the opportunity to look at the correctional sales in the short term.
MACD
It is growing, and retaining the "bullish" signal. Indicator recommends hold
long positions in the short term. With the opening of new deals
now it is better to wait.
Stochastics
again reaches the boundary of the overbought zone, indicating the probability
corrective retracement in the coming days.
levels
Support: 1.5659, 1.5600 (near the local minimum August 20), 1.5558
(A minimum of 18 of August), 1.5520, 1.5465, 1.5400, 1.5330 (low of July 8).
levels
Resistance: 1.5700 (nearest the mark), 1.5722 (the current maximum of 21
in August), 1.5770 and 1.5800 (near the high of June 24).
trading recommendations
Open
long positions in the breakdown of 1.5700 followed by rebound from this level as
of support. Take- profit should be positioned at the level of 1.5800, and stop loss
1.5600.
Open
short positions in the breakdown 1.5600 1.5465 down for the purpose and to stop loss otmetke1.5700.
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