08, August 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General Overview

The Central Bank of England, based on new developments in the field of finance and credit, announced that these changes will not change the unemployment interest rate of the UK.

The Monetary Policy Committee TSBV refuses to raise the rate from its current level of 0.5%. The British central bank reported that the changes will not happen until the unemployment rate will not fall below the threshold of 7%.

Now Ichimoku Analysis

Price entered the cloud on the four hour chart. The sell signal is weak, if the growth continues, the sell signal will be canceled. Kijun-Sen and Tenkan-sen still form a "dead cross", the price is above the signal line. Cloud is directed downwards. Tenkan-sen is slightly increased and the Kijun-sen is reduced.

Bollinger Bands indicator shows a downward movement, the bands are directed down.
MACD left a negative area and is growing up now.

Trading Recommendations

The pair managed to continue its growth and is trying to stay above the 1.5300-1.5315 support area. The risks are still directed towards 1.55, then to the resistance 1.56.

If the pair falls again and consolidates below 1.5300, it will point to the resumption of the downtrend to test 1.4810.