13, January 2014

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General Overview

The pair left the cloud still its direction is still uncertain. The main trend is directed upwards, if the pair stays above the Cloud it will be contimued.

The northern movement is confirmed and strong. The price is fixed above the cloud and below the line Chinkou Span.

The upward movement will be in a force as long the price is above the Kijun -sen. Kijun –sen and Tenkan-Sen are directed upwards. Tenkan-Sen is crossing Kijun-sen down.

Bollinger bands indicator is turning upwards.
The MACD histogram is in a positive zone, showing a growth.

Trading recommendations

Volumes near the resistance level 1.6465 indicate purchasing power lowering.
If the pair stays above the cloud the growth will be continued to 1.6555. If the pair returns back below the Cloud the road to 1.6313 will be opened.