Overview of the GBP / USD rate on 18/04/2016
His outlook on the British GDP for 2016, the IMF changed to 1.9% from 2.2% earlier, and as a result the sterling reacted to this decline. The IMF is once again reminded of the United Kingdom "brezkita" consequences which, as before, the market concerned. The British currency was not able to get support even after the release of strong releases: UK CPI accelerated to 0.5%. Over the past fifteen months, it is the highest mark. From 1.2% to 1.5%, core inflation rose, while expectations of growth to 1.3%. Only at the end of trading the pound was up against the general decline of the dollar.
Quotes pound fell to a mark 1.4240. The level of 1.4160 has been lost. This mark is restricted subsequent recovery. However, after a brief consolidation quotes to break this level up and tested the 1.4240 resistance.
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.
Price is located in the Ichimoku cloud and Chinkou-Span is above the price level. The Te nkan-sen shows the upward movement and the Kijun-sen - the horizontal and form "Dead Cross".
The MACD histogram is located on the ground level. The price is adjusted.
Trading recommendations GBPUSD
The current area of comfort is not excluded consolidation. If the growth continues, the first target will be the level 1.4240. If the pair will drop again, the goal will be to the level of 1.4160.
Source Fort Financial Services