The yield on 10-year UK government bonds declined. The United Kingdom presented data on the index of consumer confidence, which was released at the level of the forecast 1.
Last week the pair GBP / USD was strengthened and was able to overcome the resistance in the 1.4560 and 1.4670. However, the tool was unable to gain a foothold, and by the end of the week the pair broke through 1.4670 mark down in the monthly highs. Currently, support is located near 1.4560, and resistance at 1.4670.
On the four-hour time frame MACD indicator is in the positive area and continues to decline. The histogram is below its signal level and supplies the signal to sell. RSI Oscillator is in the overbought zone, suggesting a sell signal.
Forecast GBP / USD
in the beginning of the week can be expected to continue the downward movement in the pair GBP / USD. The first goal will make the level of 1.4560 and 1.4480 next.
Source Fort Financial Services