03, June 2016

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

The British currency is still volatile after the latest poll regarding the UK membership in the EU. According to the poll the number of Britons who want leaving the EU grew vs. those who prefer staying in it.

Current situation

The British currency remained in the flat after a recent sharp decrease. The pair remained in the range 1.4400 – 1.4480. The market needs a break to recover from the losses. The resistance is at the level of 1.4480, the support is at 1.4400.

MACD indicator is in a negative area. The signal line is in a histogram. The signal is bearish. The indicator RSI is oversold.

Trading recommendations

We expect the flat will be continued.