The significant event on Thursday was the inflation report of the Bank of England. As we have expected, the Central Bank statements about the economy and the inflation increase were quite negative. The rate remained unmodified by the UK regulator at the level of 0,5%.
The first support occurs at 1.4400 and at 1.4320 subsequently. The first resistance stands at 1.4480 and at 1.4560 subsequently.
A confirmed and a sturdy sell signal has been found. The price is below the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen displays a horizontal motion and the Kijun-sen forms a descending movement creating a "Golden Cross". The descending movement will remain until the price is below the Cloud.
The MACD indicator is in a negative location. The price is declining.