Exchange rate still is above the moving averages with periods of 89, 144, 34 and 55 that are near support levels 1.6175, 1.6140 and 1.6130.MACD histogram is located in the positive zone and above its signal line, continues to gradually rise, and thus sends a signal to buy GBP / USD.
Stochastic Oscillator is in the overbought zone and forms are not clear, but the opposite signal, since the% K line only crossed the line% D top-down, but not yet started fall below it.
The contradiction in the signals that serve indicators, leads us to the fact that the most correct decision now - to stay out of the forex market and focus on the next strong support and resistance levels.
There are two options:
1. Breakdown of the local max 1.6345 and growth GBP / USD to levels of 1.6400/10 and 1.6475.
2. Break of 1.6250 support level and the correction to the levels of 1.6210/00 and 1.6175.
Traders recall that today at 12:30 MSK. will be issued a number of important fundamental data for the UK:
- Consumer Price Index
- Net borrowings of the public sector
which will have a strong influence on the further developments in this currency pair.
Resistance levels: 1.6325, 1.6345, 1.6380, 1.6400/10, 1.6450, 1.6475
Current Price: 1.6299
Support levels: 1.6275, 1.6250, 1.6210/00, 1.6175, 1.6140/30, 1.6110/00
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