GBP/USD Pair Is Growing
LiteForex Europe | May 25, 2016 06:32AM ET
Yesterday the pair significantly grew. The pound was supported by the results of the latest public opinion survey regarding the upcoming referendum on UK’s membership in the European Union. According to the survey, the number of supporters of keeping the country in the EU exceeded by 13% the number of those ready to vote for UK’s departure. Substantial influence on the opinion of the public had a speech by Prime Minister David Cameron who warned that positive results of the referendum bear risks for the economy of the country.
Bollinger Bands® on the daily chart is moving up while the price range is widening. MACD is growing and giving a weak buy signal. Stochastic is turning up.
Support levels: 1.4600 (local low), 1.4561, 1.4527, 1.4500, 1.4442 (23 May low), 1.4400, 1.4374, 1.4322 (16 May low), 1.4300 (21 April low).
Resistance levels: 1.4663 (19 May high), 1.4730, 1.4771 (3 May high), 1.4800 (4 January high).
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