Bulls make new attempt to press for higher price in GBP-USD

Posted 13 February, 2018

The 4H chart shows that GBP has got substantial support at 1.3785-1.3810 handle. The pair has been mainly bullish since the yesterday’s American session.
 

GBP-USD highlights

The exchange rate stays well below 34-, 144-, 55- and 89-period moving average that is the line of the resistance of  1.3895, 1.39475, 1.4000 and 1.40575.

The MACD remains in the negative area, but above its signal line for now. The indicator keeps gradually rising promoting GBP purchases.

Oscillator stochastics is in the neutral area and gives a similar signal as %K line is moving above %D one.

Thus, the prices are likely to keep rising, while bulls may target 1.3940, 1.39925 and 1.4035.

Notably, the UK will announce the inflation data today, which can strongly affect further trading.

The price is 1.3854. The resistance levels are 1.38725, 1.3895, 1.3905/10, 1.3940/475 and the supports –  1.3850, 1.3810, 1.3785, 1.3765, 1.37425, 1.3700.

Previous forecast

14 February, 2018 14:45

← US inflation report in the spotlight

Today's key event is the announcement of the US inflation data for January. Investors await this report as with inflation rate it will indicate a further policy of the Federal Reserve...The USA is said to show high employment rate lending additional support to the inflation rate. The rate can be reported at 2% y-o-y, which provides demand for the greenback.

US inflation report in the spotlight

Next forecast

13 February, 2018 10:43

Japanese yen shows rise on Tuesday →

Japanese yen remains quite strong in the US dollar pair. The USD-JPY price was 108.7 this morning. The rate can hit the February bottom soon and head to the September minimum. Japan has announced diverse data for the yen today. The producer price index in the country increased just 2.7% y-o-y in January (3.0% y-o-y in December).

Japanese yen shows rise on Tuesday
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