10, June 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

The sales of dollar allowed the pair to update the four-month high at 1.5683, although there is a small deviation in the present but the tone remains bullish.

If a stable growth is continued the pound may continue its recovery to the level 1.5700 and the employment data in the U.S. will not impact it much.

It is expected that consumers will revive when the pair falls to 1.5520 key support.

Ichimoku Analysis

Chinkou Span is below the price chart. Tenkan-Sen is below the Kijun-Sen. Tenkan-Sen is directed upwards, Kijun-Sen is horizontal. The Cloud is directed down.

Bollinger Bands are broadening.
MACD is in a positive zone now and keeps growing.

Trading recommendations

We see the following variants:
The main scenario: the pair should be bought above 1.5595.
The second scenario is to sell when the price breaks down the level 1.5430.