10, December 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General Overview

The positive data on the U.S. labor market pushed the pair slightly down last week; but dollar did not receive significant support. Investors doubt about the program of quantitative easing which Fed is going to curt. The speech of the BE head - M. Carney and the member of FOMC U.S. - D. Bullard did not surprise with any interesting news.

Tenkan-Sen and Kijun- Sen have formed a «dead cross», Kijun-Sen is horizontal, Tenkan-Sen is directed upwards. Ichimoku cloud is changing its direction, Chinkou is below the chart, the price is above the Ichimoku cloud. The upward movement will be continued as long as the Kijun-sen is below the price.

Bollinger bands are directed upwards they are changing a direction, turning down.
MACD histogram is in positive zone, its volume grows.

Trading recommendations

We recommend going short with a take-profit at the level 1.6100.