28, March 2014

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General Overview

The British pound consolidated at the yesterday's session. Interesting news hasn’t been published in the UK, and this interest in the “cable” can probably be related to its highest profitability among the colleagues reserve currencies.

The first support is 16600, the next one is 1.6555. The resistance is 1.6670.

There is a strong sell signal; the pair is under the Cloud. The price is in the Cloud and above the Chinkou Span.

The downward movement will be continued as long the price is below the Kijun-Sen. The Cloud is directed down. The Tenkan-Sen and the Kijun-Sen are growing.

MACD histogram is in a positive area now, the signal line is in a histogram. The indicator is growing showing a buy signal.

Trading recommendations

The pair keeps growing. The immediate goal is the level 1.6670.