17, September 2014

GBP/USD (a 4-hour chart)

GBP/USD (4-х часовой график)

General overview

The British pound remains under pressure in the run-up to the Scotland referendum, which will take place on 18 September. We should remember that the Scotland separation will lead to the pound collapse. And also may reduce short-term rates. At the same time, if the UK separation opponents win, the economic indicators will be in the centre of attention.

The pair GBP/USD is trying to break the strong resistance level of 1.6270. The pound sterling corrective growth moved to the side consolidation.

The price is finding the first support at 1.6270, the next one is at 1.6180. The price is finding the first resistance at 1.6340, the next one is at 1.6440. The price is in the Cloud. The pair makes soft steps upwards trying to develop a correction.

The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement and form a “Golden Cross”.

The MACD histogram is in a neutral territory. The price is growing.

Trading recommendations

The price is likely to go to the downward trend line 1.6030 if the news is negative.