AvaTrade - Analytics

AvaTrade

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GBP/USD- Selling pressure continues

The GBP/USD is trading below the downward trend line on a 30 minute time frame. This represents that the trend is towards the downside. The price is also trading below the 50 day and the 100 day moving average shown in yellow and in red colour, respectively. This reflects that the bears are in control of the price and if the momentum is to change, we need to see the price to break above these averages.

The MACD and the RSI indicators are trading in line with the price action and this is a further confirmation that the momentum will continue its current trend.

Important zone

GBPUSD 04-05-2015

1.5042-1.5125 Support zone

1.4975-1.4956 Major Support Zone

1.5247-1.5227 Minor resistance zone

1.5397-1.5380 Major Resistance Zone



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