The "cable" has fallen against all of its major opponents after the BoE broke investors' hopes for an early policy tightening that supported the pound in recent years. The Bank of England left the key rates unchanged at the level of 0.5% and the immutability securities purchase fund worth $375 billion pounds. The pound fell after the regulator comments that signaled that the UK monetary policy tightening necessity has decreased amid the global economy deterioration until mid-2016 and perhaps until the beginning of 2017.
The price is finding the first support at 1.5040, the next one is 1.4970. The price is finding the first resistance at 1.5100, the next one is at 1.5150.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement and form a “Dead Cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is decreasing.
The last week news background sent a pound to a knock-down. The pair fell from the level of 1.5400, breaking several levels on its way. After such a strong fall we expect a pullback and a consolidation. The possible rebound targets are the levels of 1.5100, 1.5150 and 1.5200. The southern movement target is 1.4970.