14, December 2015

GBP/USD (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The British central bank left the rates and the buying assets program size unchanged. Contrary to the forecasts, the votes number to keep the borrowing costs at the current level of 0.5% remained unchanged (8 to 1). In addition, the regulator expressed his concern about the oil price decrease that would restrain the inflation growth.

The price is finding the first support at 1.5200, the next one is at 1.5150. The price is finding the first resistance at 1.5300, the next one is at 1.5390.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement and form a “Golden Cross”. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

If the price fixates below the support 1.5200, it may continue the downward trend in the short term. The potential targets are 1.5150 and 1.5100.