GBP/USD Hits A New 14-Month Low
Masterforex-V | Nov 17, 2014 03:12AM ET
After sales activity of Wednesday of the pair GBP/USD could stabilize in a narrow range in the last hours before the fall to a new cyclical low of European trading. GBP/USD fell below 1.5760 and hit a new 14-month low at around 1.5752. "The pound came under pressure after the quarterly inflation report the Bank of England showed that rates could be raised later than previously thought," - noted analysts of the Forex Broker Company .
On the eve of the auction again there were multidirectional nature. Major currency instruments spent the day in the side corridors. The US dollar rose on the day. There was no exception, the USD/JPY, the US dollar is almost reached a new local maximum, closing the day with a plus. What led to the earlier weakening US currency, hard to say. Probably, in the absence of important news on the Forex market has had an impact, "pigeon" speech of the Federal Reserve of Boston Rosengren. It is reported that US regulators should refrain from raising interest rates until until confidence that inflation will return to target levels defined at the level slightly below 2%.
The market is not expected large-scale shocks. Trading in the euro and the yen, the US dollar will be as before. In tandem with the British pound can be highly volatile, as Britain should introduce a lot of important data.
Overview and trading recommendations
British currency fixed against the "green" sharp decline. And in this case the cause and served tehfaktory shtatovskie news. Britain will present data on employment and the release of the inflation of the British regulator. At the press conference, Mr. Carney comment on this release. Downward trend line at 1.5950 remains for "bears" major resistance from which the price jumped. In the area of 1.5660 is support. In the area of 1.5870 is the first resistance, higher - 1.5950.
Strong sell signal and confirmation. Price is below the Ichimoku cloud and Chinkou-Span is above the price level. Tenkan-sen and Kijun-sen show downward movement. Relevance downward movement will continue until the price is below the Ichimoku Cloud. The MACD histogram is in the negative zone. Price decreases. "The level of 1.5660 - the purpose of reducing," - said the expert of Fort Financial Services (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/) .
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