GBP/USD (a 4-hour chart)
On the one hand, the British pound can be further supported by the oil prices increase. On the other hand, the pair EUR/GBP cross-rate significant growth amid the
The price is finding the first support at 1.5100, the next one is 1.5015. The price is finding the first resistance at 1.5200, the next one is at 1.5300.
There is a confirmed and a weak buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows an upward movement and form a “Dead Cross”. The upward movement will be until the price is above the Cloud.
The MACD histogram is in a neutral territory. The price is correcting.
The approach to the level of 1.5100 may lead to a price rebound upwards. The potential rebound target is the resistance level of 1.5200.