Forecast GBP / USD May 11, 2016
Index trade balance Albion last month rose more than expected, which supported the sterling GBP. The value of the indicator, considering seasonal variations, was -11.20B compared with the March -11.43B. These revised with -11.96B. It was assumed that the growth rate for April will be -11.30B. But for a couple of pound / dollar had a negative impact falling oil prices. New on the black gold prices allowed the pair to grow at the end of trading rate fell slightly.
Couple pound dollar consolidated near 1.4400, although the price has dropped below this mark, where the latest rate rose and tested the level of 1.4480. For a couple of trades closing slightly decreased. In the area of 1.4400 is the first support below - 1.4320. In the area of 1.4480 is the first resistance, above - 1.4560.
The signal to sell the pair GBP / USD is strong and confirmed. The price is below the Ichimoku cloud and Chinkou-Span is above the price level. Tenkan-sen shows the upward movement and the Kijun-sen - the horizontal. The urgency of the downward movement will continue as long as the price is below the Ichimoku cloud.
Histogram MACD is in the negative zone. Price reduced.
Trading recommendations GBP / USD
have quotations have the opportunity to continue to decline from Target at 1.4400 and below at 1.4320.
Source Fort Financial Services