12, June 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

The British pound could not fallow the main scenario. Before the release of the industrial production report in Britain GBP/USD fell to 1.5533. The report came out neutral. Reaction to the news was a minor. The annual figure was weaker than expected, monthly rate was better than expected.

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.