Technical analysis of GBPUSD dated 15.04.2016

As the Brexit is still undecided GBP is under pressure and on the other hand the Bank of England announced the interest rate result which was at the same level. GBPUSD is falling down the descendant channel in ranges between 1.44588 and 1.40010. The EMA of 10 has already passed the EMA of 50 which shows the price decrease in recent days. The support lies at 1.41290 with resistance at 1.41710 which both are below the monthly pivot point at 1.42580. The MACD indicator is in neutral territory which shows the price correction and the RSI is below the 50 level. The potential target at the moment is 1.40903 and the 1.40010 level breakthrough will lead the pair to lower ranges.

https://fxglory.com/technical-analysis-of-gbpusd-dated-15-04-2016/