On Friday, the reports on public borrowing have been published and according to them the tax revenues in the budget are at a maximum level for the last 18 years. In consequence, the economy of Great Britain is being restored and unemployment rate is coming down that leads the country to independence from borrowed funds. Against the backdrop of these data the currency pair was restored from a daily minimum to the level of resistance 1,4990. Due to recovery of the economy of the United Kingdom, and also of unwillingness to raise interest rates to representatives of Fed U.S., in the future of the pair will continue the ascending movement.
Main movement of currency pair
GBP/USD is in an ascending trend ascending movement, Tenkan and Kijun lines are bound above the price curve, the price moves in the descending cloud, continuation of the ascending movement is predicted. Traders should take “buy” positions above the level of resistance 1,4900, fix profit at the following levels of support 1,4950, 1,4990.
Alternative movement of currency pair
If GBP/USD pair manages to break through and get fixed below the level of support 1,4850, continuation of the descending movement to the following levels of support 1,4800, 1,4770 will be possible.
Level of resistance: 1,4900; 1,4950 1,4990.
Level of support: 1,4850; 1,4800; 1,4770.
Main movement of currency pair
GBP/USD is in an ascending trend ascending movement, Tenkan and Kijun lines are bound above the price curve, the price moves in the descending cloud, continuation of the ascending movement is predicted. Traders should take “buy” positions above the level of resistance 1,4900, fix profit at the following levels of support 1,4950, 1,4990.
Alternative movement of currency pair
If GBP/USD pair manages to break through and get fixed below the level of support 1,4850, continuation of the descending movement to the following levels of support 1,4800, 1,4770 will be possible.
Level of resistance: 1,4900; 1,4950 1,4990.
Level of support: 1,4850; 1,4800; 1,4770.
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