Technical Analysis for GBP/USD: March 30, 2016
Posted: Wed Mar 30, 2016 3:16 am
The extensive demand for the dollar reinforced the pound/dollar pair. The Manufacturing PMI will be issued on Friday and so we propose to focus on it as well as we wait for Bank of England Chairman Mark Carney's performance on Thursday.
The price's first support occurs at 1.4320 and at 1.4240 subsequently. Meanwhile, the first resistance resides at 1.4400 and at 1.4480 subsequently.
A non-confirmed and a sturdy buy signal has been found. The price is over the Ichimoku Cloud and it is on top of the Chikou Span. The Tenkan-sen and the Kijun-sen display an ascending movement creating a "Golden Cross". The ascending motion will remain until the price is over the Cloud.
The MACD indicator is in a positive location. The price is increasing.
The price's first support occurs at 1.4320 and at 1.4240 subsequently. Meanwhile, the first resistance resides at 1.4400 and at 1.4480 subsequently.
A non-confirmed and a sturdy buy signal has been found. The price is over the Ichimoku Cloud and it is on top of the Chikou Span. The Tenkan-sen and the Kijun-sen display an ascending movement creating a "Golden Cross". The ascending motion will remain until the price is over the Cloud.
The MACD indicator is in a positive location. The price is increasing.