10, April 2015

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

The UK National Statistics published the trade balance report. The UK goods and services trade deficit fell unexpectedly to 606 million pounds in January 2015 after 2 142 million pounds in December. The main factor is the significant decline in the basic sector excluding oil and major commodities. There will be published decision about the interest rates.

The strong resistance level short-term of 1.4920 testing was followed by the price rebound downwards. The price broke through the support level of 1.4800 amid the low volume.

The price is finding the first support at 1.4650, the next one is 1.4500. The price is finding the first resistance at 1.4800, the next one is at 1.4920.

There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement. The downward movement will be until the price is under the Cloud.

The MACD histogram is in a negative territory. The price is falling

Trading recommendations

After the trend line 1.4650 breakthrough down the way to the support 1.4500 will be opened.