29, March 2016

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

The US data was the focus of our attention on Monday as no important news were published in the UK. The trading volumes were very low amid the Easter Monday.

The price is finding the first support at 1.4160, the next one is at 1.4080. The price is finding the first resistance at 1.4240, the next one is at 1.4320.

There is a confirmed and a strong sell signal. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows a downward movement. The downward movement will be until the price is under the Cloud.

The MACD indicator is in a negative territory. The price is correcting.

Trading recommendations

After the support level of 1.4160 breakthrough down the way to the support 1.4080 will be opened.