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08 June 2015: GBP/USD: general overview

GBP/USD: general overview

 

 

 

 

During the last trading session, GBP/USD fell sharply on US labour statistics. According to the data published, the number of non-farm payrolls grew by 280 thousand in May against a forecast of 225 thousand. This made the pound drop by over 100 points. Weak data on US unemployment rate, which rose 0.1% to 5.5% in May, prevented GBP/USD from a sharper decline. The pound managed to reappreciate a bit, and GBP/USD steadied at 1.5270 at the end of the trading day.

Today, June the 8th, the economic calender does not foresee any serious macroeconomic releases that could affect the GBP/USD rate. Let's have a look at technical indicators.
The MACD points to sellers' growing influence on the H4 chart. The histogram is located in the negative zone and its volumes are increasing. Bollinger bands are diverging, confirming the continuation of the current downtrend.

Resistance levels: 1.5290, 1.5340, 1.5390, 1.5440.
Support levels: 1.5260, 1.5235, 1.5198, 1.5170.


This website/communication is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. It has been prepared by Mayzus Investment Company Limited without taking into account any particular person's objectives, financial situation or needs. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Past performance is not indicative of future performance. The future value of your investment may rise and fall with the changes in the market.

 

 

 

 

 


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