03, May 2016

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

According to the international rating agency S&P, if the UK leaves the EU alliance it might loss its AAA rating. The GBP/USD grew amid the general dollar weakness and speculation that the United Kingdom will remain within the EU. The UK market was closed yesterday amid Early May celebration.

The price is finding the first support at 1.4670, the next one is at 1.4560. The price is finding the first resistance at 1.4760, the next one is at 1.4880.

There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is increasing.

Trading recommendations

The potential growth targets are the resistance levels: 1.4760 and 1.4880.