13, February 2014

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General Overview

The British pound in the previous session rallied versus its all major opponents. The interest to the pound as to the most profitable currency now could be sustained with optimism on stock markets.
Only the break below 1.6200 cancels the positive expectations and will open the way to further decline to the support 1.5850-1.5915.

There is a strong and confirmed buy signal. The price is above the cloud and above the Chinkou Span.
Tenkan-Sen is crossing Kijun-sen upwards. The upward movement will be in a force as long the price is above the Kijun -sen.

Bollinger bands indicator is broadening being directed upwards.
The MACD is in a positive zone, showing a growth.

Trading recommendations

Volumes remain at growing level. The pair is growing having reached a new maximum. The pair may grow to 1.6670. We expect a bounce back then.