18, December 2015

GBP/USD (a 4-hour chart)

GBP/USD (4-х часовой график)

General overview

The UK labor market secondary data did not add optimism to markets. Last month the number of jobless claims increased by 3.9 thousand. The unemployment rate remained at the level of 2.3% that is in line with the analysts’ expectations. Meanwhile, the average wage, taking into account premiums, increased by 2.4% y / y. The ILO statistics just became the "bright spot"- the unemployment rate fell to 5.2% from 5.3%. The UK retail sales volume came out at the level of 1.7 (m/m) and 5.0% (y/y) against the forecast of 0.5% (m/m) and 3.0% (y/y).

The price is finding the first support at 1.4830, the next one is at 1.4760. The price is finding the first resistance at 1.4900, the next one is at 1.4970.

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 and the Kijun-sen show a horizontal movement. The downward movement will be until the price is under the Cloud.

The MACD indicator is in a negative territory. The price is decreasing.

Trading recommendations

The potential decrease targets are two levels of support: 1.4830 and 1.4760.