Fort Financial Services - Analytics

    Fort Financial Services

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    GBP/USD (a 4-hour chart)

    GBP/USD (a 4-hour chart)

    General overview

    The "black gold" quotations collapsed at the beginning of the week which is a positive factor for the US currency as the commodities price is denominated in dollars. The Brent bears are inclined to test the psychological level of 30. This is a negative factor for the Sterling. The 10-year UK government bonds yield reduced relative to their US and the Eurozone counterparts.

    The price is finding the first support at 1.4400, the next one is at 1.4320. The price is finding the first resistance at 1.4480, the next one is at 1.4560.

    There is a confirmed and a strong sell signal. The Sterling is below the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement. The downward movement will be until the price is below the Cloud.

    The MACD indicator is in a negative territory. The price is decreasing.

    Trading recommendations

    The pair can grow to the resistance level of 1.4480. After breaking 1.4480 the buyers may go to 1.4560.

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