GBP/USD (a 4-hour chart)
The average earnings slowdown coupled with the oil prices collapse help to reduce the short-term inflation expectations. The pound strengthening against the euro during 2015 is putting strong pressure on the British industry. The unemployment rate fell to the level of 5.1%, while the Cable devalued against the euro by 7.5% in the past two months which creates a positive foundation for the second quarter of this year.
The price is finding the first support at 1.4080, the next one is at 1.4000. The first resistance is at 1.4350, the next one is at 1.4470.
We have a weak buy signal. The price is in the Ichimoku Cloud. The Tenkan-sen shows an upward movement and the Kijun-sen is horizontal. The downward movement will be until the price is below the Cloud.
The MACD indicator is in a positive territory. The price is growing.
The buying scenario may become a reality soon. Buyers can leave the Ichimoku cloud behind heading to the resistance levels: 1.4470, 1.4650. In the event that the sellers manage to force below 1.4080 the downward movement will be continued to the 40th figure.