19, June 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

The possibility of high-impact events in the financial system of the United Kingdom has fallen to its lowest level since the survey began in 2008. Only 8% of respondents were absolutely sure that the financial system will be stable in the UK over the next three years.

Tenkan and Kijun are under the influence of the "golden cross", Tenkan and Sinkou A are directed down.

Ichimoku Cloud is growing. A short-term support can be expected at Kijun-Sen.

Bollinger Bands show a continuation of the upward movement. Its bands are narrowing.
MACD is going down.

Trading recommendations

The resistance at 1.5761 has limited upward trend, which is transformed into a downward one now. The dominant trend may become growing in the medium term but in the nearest future the correction is possible.

We expect the price rollback with a possibility of breaking the support at 1.5594. The correction will increase and reach a support at 1.5404.