05, April 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

The pair grew on news from Japan, where the Central Bank officially announced the softening of monetary policy. The news threw the pair to 1.52 level.

The pair continues to trade above the cloud. The Tenkan-Sen line is below the Kijun-Sen. Tenkan-Sen and Kijun-Sen are horizontal. The Cloud is neutral.

Bollinger Bands lines are extending and directed sideways. The indicator indicates the lateral movement.

MACD is above the zero line, the signal line is out of the histogram, indicating a correction.

Trading recommendations

We recommend to wait for the clear signal to open orders. The market is reeling from the news. It is difficult to forecast anything.