Current trend

At the trading session this Monday the pair GBP/USD did not demonstrate strong dynamics. Trading was quiet due to the lack of macro-economic news.

Today, economic calendar will include business activity index in the US service sector. Experts believe that this index will remain unchanged at the level of 56.5 points.

Support and resistance

On the four-hour chart Bollinger bands are directed downwards, indicating continuation of the downward movement. MACD histogram is in the negative zone; its volumes are increasing, which also suggest that current downward trend will continue.

Resistance levels: 1.5180, 1.5250, 1.5325 and 1.5400.

Support levels: 1.5090, 1.5040 and 1.4990.

Trading tips

Sell positions can be opened from the current levels with the nearest target of 1.5040. If this level is broken down, next target of the “bears” will be two-week lows of 1.4990. Breakdown of this level will open the way to 1.4910.

GBP/USD: analysis and forecast




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