23, April 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

The pair is in the Cloud which indicates its uncertainty. The price is moving from one boundary of the Cloud to another. Yesterday the pair began to grow, having stopped at 1.5280.

The Tenkan-Sen line is below the Kijun-Sen. The Tenkan-Sen and Kijun-Sen are directed sideways. The direction of the Cloud is neutral.

"Bollinger Bands" are directed aside, confirming a lateral movement.
The MACD histogram is in a negative zone.

Indicators suggest a lateral movement.

Trading recommendations

The pair remains in the Cloud so far. If it continues to fall and comes out of the cloud that will cancel the buy signal. In this case, the pair will go to 1.5180 level.