24, June 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General Overview

The dollar continues to grow due to the fact that Ben Bernanke said that the shortening of the quantitative easing program will begin in the second half of the year.

We expect change of the head of the Bank of England. In this regard, the tarders are not in a hurry to give any estimates regarding future monetary policy. For this reason the pair did not show their own dynamics and again quite closely correlated with the EUR/USD.

The price has left the Ichimoku Cloud. Tenkan and Kijun are going down, if the lines cross each other they may form a "dead cross". Chinkou Span is below the price which confirms the current sell signal and indicates a bearish sentiment of the pair.

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

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

Trading Recommendations

The pair continues to fall. Today, we expect it to work out the first goal, the level 1.5440. Then we shall wait for a return to 1.5490. And then, most likely, we expect to continue to fall to 1.5300.