Appointment to the post of Minister of Example Theresa May supported the British currency, as political uncertainty declined slightly after Brekzit.Meanwhile, the pressure on the pound sterling have raised expectations that the Bank of England will lower rates at a meeting this Thursday.
After a brief consolidation in the Asian session on Wednesday, the pound / dollar has returned to lower, losing per day about 0.65%. The pair is in a descending channel with the upper boundary at around 1.3300 and 1.2830 bottom. Resistance is located at 1.3300, support - at 1.3100.
MACD is in the positive zone, histogram indicator fell yesterday, indicating a weakening of the position of the buyers. RSI rebounded from overbought zone down, which also confirms the bearish sentiment in the market.
On the 4-hour chart, the EMA-100 made strong resistance for the price. The price rebounded from the 100-EMA, returning to the area of 50-EMA, which serves as support for the pair. The moving averages are pointing downwards.
Forecast GBP / USD today
Trading on the increase with the first target at 1.3300 GBP / USD pair is currently relevant. Break of this level will allow to be seen as the next target with long positions mark of 1.3500.
Based on materials from Fort Financial Services