02, September 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General Overview

GBP showed a good growth against euro on Thursday. Losses were modest, thanks to Mark Carney's optimism. According to the Central bank forecasts the rate will remain invariable till 2016, but this temporary framework will be overestimated if growth exceeds expectations within the next two years. Great Britain business already feels more optimistic according to Lloyd’s assessment from London which reported that the index of confidence reached the highest level since February, 2010. Data on the market of housing are planned to release today and restoration continuation in sector, though slow is expected.

Ichimoku Analysis

Tenkan-Sen and Kijun-Sen are still in a "dead cross " on the daily chart. Chinkou is below the chart, the price is under the Tenkan-Sen. Tenkan-Sen and Kijun-Sen follow the price down. Kijun-sen is horizontal, Tenkan-sen is directed downwards. The cloud has a downward shape.

Bollinger Bands indicator shows a downward movement, the bands are directed down.
The MACD histogram is located in a negative zone near to the zero level.

Trading Recommendations

The price still remains in the narrow inclined channel, directed to the descending line of a trend 1.5440. But to approach to the trend line, the price should punch and be fixed below level of support 1.5485 which hasn't let the price down for three days.