18, December 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General Overview

The British Sterling made an attempt to grow vs. the dollar, which apparently happened due to the influence of technical factors requires adjustment positions. Traders are awaiting for Fed's news, in addition we expect a correction after M.Karni' speech; if he speaks about the monetary policy, the volatility will surely grow.

The pair keeps falling. Kijun-Sen is horizontal and Tenkan-Sen is directed downwards. Chinkou is below the chart, the price is below the Ichimoku cloud at its bottom border. The downward movement will be as long as the Kijun-sen is below the price.

Bollinger shows a change of a trend, the bands are turning down.
MACD is in the negative area, the signal line is in a histogram.

Trading recommendations

The volumes do not show any activity that may become a reason for a rebound down. The main aim will of are reduction will be a strong support level 1.6245. Here we expect a consolidation.