04, March 2016

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

The GBPUSD received support amid the growing interest to the risky assets and the EURGBP fall. The 10-year UK government bonds yield increased in relation to their counterparts (USA and Germany), which increased the investments attractiveness in British assets.

The price is finding the first support at 1.4080, the next one is at 1.4000. The price is finding the first resistance at 1.4160, the next one is at 1.4240.

The price is in the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement forming a “Golden Cross”.

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

Trading recommendations

We believe the growth will be continued now. The first targets are the levels of 1.4240 and 1.4320.