26, December 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General Overview

The northern movement in the market is weak and confirmed. Chinkou Span is above the price and the price is within the Ichimoku cloud. Tenkan Sen is directed downwards, Kijun Sen is horizontal.
The cloud is neutral.

Bollinger Bands indicator points to a continued upward movement, the bands are expanded.

MACD is still in a positive area and a little above its signal line slowly decreasing.

Trading recommendations

The British sterling was traded in sideways trend, but “went to sleep” with a small profit against the “bucks”. A rebound to 1.6320 is possible. If the breakout 1.6320 downward occurs the way to a strong support level 1.6245 will be opened for sellers.