Current trend 

On Monday, the British Pound fell slightly against the America dollar due to low volatility and the lack of economic news. The USD is under pressure caused by changes in dates for the interest rates increase. The movement in the Pound has not been affected by the data on the number of unemployment benefits in the UK, which was released last Friday. This index fell by 20700 last month, while analysts expected the decrease of 29500.

High volatility in the pair is not expected today due to the lack of important macro-economic news. Market is waiting for the voting of the members of the Monetary Policy Committee of the Bank of England, which will take place on Wednesday, although big are not expected

Support and resistance

The moving average line with the period of 80 represents support at the moment. It is expected that today the price will slightly rebounce from this level. The nearest resistance is yesterday’s lows of 1.4983. The main support level is MA 150 (1.4851).

Trading tips 

It is recommended to open long positions from the level of 1.4889, take profit at 1.4983 and stop-loss at the level of 1.4851.

GBP/USD: overall analysis




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