The British currency showed growth on expectations of economic recovery in Britain after the new bond purchases. Pressure on the pound / dollar had news of the positive trends in the US labor market. As a result, the pound fell by updating the daily lows.
GBP / USD pair continued trading in a negative mood. The pound fell sharply below the support of 1.3100 and a minimum fixed below it. The minimum level was recorded in the area of 1.3020. Resistance is located at 1.3100, support - at 1.2900.
MACD confirmed the divergence. Histogram has declined, indicating that sellers gain positions. RSI approached the oversold zone.
The tool remains below the 50 EMA 100 EMA and the 200 EMA on the 4-hour chart. Now the price has fallen below the moving averages, which are directed downward.
Forecast GBP / USD
If the price below 1.3100, the pair may continue to decrease in the area of 1.2900.
Fort Financial Services