08, June 2016

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

The GBP/USD rose when a poll in The Times newspaper revealed that the number of Britons who preferred to stay in the EU grew by 1% vs. those who wants to leave it.

Current situation

The pair GBP/USD showed volatile trades on Tuesday. The pair grew on the European session and broke several resistances: 1.4480, 1. 4560 and almost reached the mark of 1.4670. The pair rebounded from this resistance and spent the rest of its trades close to 1.4560. The resistance lies at 1.4670, the support is at 1.4560.

MACD crossed the zero line upwards. The histogram is above the signal line. MACD kept growing. RSI approached the overbought level of 70.

Trading recommendations

The break below 1.4480 should send this market looking for the 1.4400 level