Overview pair GBP / USD on 28.03.2016
The pair received solid support thanks to the British data on retail sales. In annual terms the benchmark rose by 4.1%, while expectations of growth of 3.4%, the January value was + 5.1%. Better expectations were and general retailing, accounting for - 0.4%, with expectations of experts at the level of - 0.7%.
Instrument managed to recover. From lows in the 1.4080 quotes adjusted to the area of 1.4160, below which bids closed.
In the area of 1.4160 is the first support below - 1.4080. In the area of 1.4240 is the first resistance, above - 1.4320.
A sell signal 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 - downward. 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. The price is consolidating.
Trading recommendations for pound
To quotes managed to return above 1.4260 is needed to break the resistance level of 1.4160.
Research Fort Financial Services