12, February 2015

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

We should not count on the steady quotations growth in the absence of important macroeconomic statistics. The UK 10-year bond yields are raising in relation to the Germany and the US analogues that is a bullish factor for the "cable".

Sellers are dominant in this market. The medium-term downward trend is held by the key resistance as a downward trend line of 1.5300.

The price is finding the first support at 1.5200, the next one is 1.5100. The price is finding the first resistance at 1.5300, the next one is at 1.5400.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Dead Cross”. The upward movement will be until the price is above the Cloud.

The MACD histogram is in a positive territory. The price is correcting.

Trading recommendations

The potential decrease target is the support level of 1.5015.