Forex: Analysis GBP – USD:
The GBPUSD has an upward trend since May 24 seems to be coming to an end. The first goes through 1.6534 resistance, the second by 1.6572 while the third by 1.6744.
This significant increase appears to be close to a setback as the market overbought gives clear signals of the pair. Moving averages even guarantee purchases but another very important indicator and the RSI is in a warning to potential drop in the price as 76.13 marks.
The quote should look very closely to find a clear sell signal to enter the market. Should evolution be down a first floor is located around 1.6377, the second and third in 1.6174 1.6016.
If you look from a longer term perspective, the pair moves horizontally and the floor is 1.5938.
For this week does not expect major announcements that affect the pound while the dollar may suffer some influence according to what is published on the U.S. unemployment rate and the index of consumer confidence.