20, May 2014

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General Overview

The British pound also was down against the dollar most of the past week, but began leveling losses and returned lost growth part by the session end. Obviously, interest in sterling could be increased by technical factors presented strong support for the GBP / USD pair, and the weakest arguments range that allow a negative attitude to the "cable" because the "Isles" economy continues to grow.

Judging the growth rates were not confirmed by volume, it is likely to observe another rising trend line 1.6730 retest, or consolidation level development on 1.6760 support.

The support is 1.6800, the next one is 1.6730. The resistance is 1.6860, the next one is 1.6940.

There is a confirmed and weak sell signal. The price is under the Cloud and under the Chinkou Span. The upward movement will be continued as long the price is above the Kijun-Sen.

The MACD histogram is in neutral territory.

Trading recommendations

The pair is going down. The first target is 1.6750. The second target is 1.6670.