GBP is gaining momentum when the UK government bonds yields surpassed its counterparts as the US and Germany. On the other hand, the risk appetite has increased leaving impacts on this asset. At the moment GBPUSD is going downward and continuing the decline. Moreover the Ichimoku indicator is also signaling sell opportunity as the price s under the Ichimoku Cloud and the Chinkou Span. The Kijun-sen is showing a downward trend while the Tenkan-sen is showing horizontal movement. Likewise, the MACD indicator is in negative territory which means the price is correcting. The resistance level breakout at 1.42000 can smooth the way for buyers but for now the price is getting closer to the support level at 1.4093 maintaining its downward trend.
Technical analysis of GBPUSD dated 25.03.2016
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