The pound traded in the "green" zone after the release of the report on business activity in the non-manufacturing sector of the United Kingdom.Besides, frankly weak ISM index of business activity in the US services sector weakened the dollar and strengthened the pound.
Great Britain did not provide important reports on Tuesday, and the pound traded under the influence of external news background. The pair remains in the "green" zone. The price rebounded from yesterday's lows and returned to the resistance of 1.3360 in the European session. John strument accelerated growth and struck 1.3360 mark at the North American session. On the 4-hour chart, the pair GBP / USD was fixed above the moving averages, which are moderately bullish bias. 50-EMA rebounded from the 100-EMA and crossed the 200 EMA in the upward direction, which is a signal to buy. Resistance is located at 1.3500, support - at 1.3360.
MACD shows convergence on the hourly chart. RSI entered overbought zone.
Forecast GBP / USD 07.09.2016
Level 1.3360 is now the key for the pair. If the price falls below it, you can expect a continuation of the downward movement to 1.3200. To continue growing, the couple should be fixed above the level of 1.3360.
Based on materials from Fort Financial Services