GBP/USD (a 4-hour chart)
The Gilts 10-year bond yields increase proves the best their hard work. The oil prices increase have a positive impact on the February and March CPI index. In the light of this, the regulator should not launch the monetary easing. The ISM service sector positive releases cheered bulls to short and now the US dollar looks as a favorite one.
The UK and Germany 10-year bond yields reached 150 basis points, indicating the downward trend continuation within the pair EUR/GBP. Apparently, this factor will deter the British pound from the strong prices decline.
The price is finding the first support at 1.5200, the next one is 1.5100. The price is finding the first resistance at 1.5300, the next one is at 1.5400.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.
The MACD histogram is in a negative territory. The price is falling.
The approach to the level of 1.5200 may lead to a price rebound upwards. The potential rebound target is the resistance level of 1.5300.