AvaTrade - Analytics

    AvaTrade

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    GBP/USD- Bearish sentiment Prevails

    The GBP/USD pair is trading below its downward trend line on a 4 hour time frame. This confirms that the trend is toward the downside. Moreover, the price is also trading below its 50 day and 100 day moving averages and this is a further confirmation of the above argument. The 50 day (shown in yellow) has also crossed the 100 day (shown in red) from above and this shows the strength for the bearish sentiment. The volatility for the pair is low as it is trading near its 20 day moving average.

    The RSI and the MACD indicator are trading near their oversold zone and this should be taken as a caution.

    GBPUSD 06-07-2015

    Important Zone

    1.6184-1.6134 Major

    1.6030-1.5973 Minor

     

    1.5408-1.5356 Minor

    1.5223-1.5158 Major


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