11, June 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

The pair GBP/USD has been enjoying its best moments for a long time as it has been growing to new maximum 1.57 for months.

The pair is currently near the key level 1.55. The pound made a breakthrough last week and moved away from the level 1.52. Earlier, the pound received a strong support at the level 1.50 which gave it the opportunity to get up and get back above 1.52.

Now the GBP/USD moves to new high levels above 1.56.

Traders are more united in favor of long positions now.

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

The pair still has not overcome the previous top level like the euro, that fact questions the continuation of the growth. If the price overcomes this week mark and consolidates above 1.5600, then we can talk about the continuation of the upward movement.