14, September 2015

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

The British currency has been ignoring the negative news for two trading days which indicates the strong buyers’ presence. The UK government bond yields increased relative to their US and Germany counterparts which contributes to the capital flow into the UK assets.

The pair pound/dollar continued its upwards consolidation. After the resistance level of 1.5460 testing the pair rebounded downwards.

The price is finding the first support at 1.5390, the next one is 1.5300. The price is finding the first resistance at 1.5460, the next one is 1.5550.

The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement.

The MACD indicator is in a positive territory. The price is consolidating.

Trading recommendations

We believe the growth will be continued now. The first target is the level 1.5460, the next one is the mark of 1.5550.