13, August 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General Overview

GBP / USD rose for the week and closed at 1.5502. The pair jumped sharply on Wednesday after speculation about a possible increase in interest rates. Such speculation appeared after Mark Carney's comments, who has shown a commitment to reduce inflation to 2.0 percent. Trade Balance came out better than expected -8.1 billion sterling in June.
Now Ichimoku Analysis

The price is being traded above the cloud on the four hour chart. The buy signal is strong, if the growth continues. The price is above the signal line. The Cloud is growing. Tenkan-sen is slightly increased and the Kijun-sen is horizontal.

Bollinger Bands indicator shows an upward movement, the bands are directed up narrowing.
MACD left a negative area and is growing up now.

Trading Recommendations

The British currency can not find a way to test the fifty-sixth figure and, after the acquisition of bids in the 1.5530/20 is being traded with depressed mood. The interest in buying is saved near the figure, but dealers noted that the interest in profit-taking after the weekend is saved and the bulls should be ready for testing levels near 1.5485/80. The large purchase orders are saved here and the break lower will be the signal for developing of the correction to 1.5440 and potentially to 1.5420/1.5380.