30, June 2015

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

General overview

There has not been published anything interesting from the United Kingdom and the United States macroeconomic statistics and therefore we should pay attention to the debt market dynamics. The bond market is in the flat - the 10-year UK government bonds yield slightly fluctuated to their counterparts from the US and Germany.

The pound is unlike the euro opened at the previous week closing price. Then it was a gap but not as strong as in the pair EUR/USD. This trade is above the strong support level of 1.5670, which has been constrained sellers four days.

The price is finding the first support at 1.5670, the next one is 1.5550. The price is finding the first resistance at 1.5775, the next one is 1.5950.

The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement.

The MACD histogram is in a neutral territory. The price is consolidating.

Trading recommendations

The potential decrease targets are two levels of support: 1.5670, 1.5550.