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Main » 2016 » July » 12 » Forex. Forecast 12.07.2016: GBP / USD
Forex. Forecast 12.07.2016: GBP / USD



With the release of Non-Farm Payrolls, showed an increase of jobs in the United States to 287K last month, the dollar strengthened sharply against its major opponents. The attention of traders this week will be focused on the meeting of the Bank of England, where the controller can lower the base rate to 0.25% after 0.50%, which had a negative impact on the national currency in the short term.




Current situation

Pair GBP / USD remains under pressure in the downlink. On the daily range of the downward underlying trend.Yesterday the pair tested levels near 1.2840 and then back above $ 1.2900. Resistance is located at 1.3100, support - at 1.2900.

Technical indicators show bearish signal. MACD is in the negative zone. The indicator can break through the zero line up and give a signal to the change of direction from bearish to bullish.

On the 4-hour chart, moving averages are moving downward. On the hourly chart the price has broken through the 50-EMA and tested 100-EMA, bounced off it down.

Forecast GBP / USD today

There is the possibility of renewed decrease in pair GBP / USD. If the level of 1.2900 is broken down, the Target will further reduce the 1.2700 mark. Not excluded upward correction tools, the objectives of which will be the resistance 1.3100 and 1.3300 .





Based on materials from Fort Financial Services

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