GBP/USD (a 4-hour chart)
The Cable finishes the year near the 7-month low. The Bank of England uncertain position regarding the interest rates hike is a downward movement driver for the Sterling. The Bank is still the "second in line" after the Fed, the time-limit when the Regulator may change the rates is moved significantly, given the weak inflationary pressures, sluggish wage growth, conflicting data on business activity and politicians' cautious statements.
The price is finding the first support at 1.4760, the next one is at 1.4700. The price is finding the first resistance at 1.4830, the next one is at 1.4900.
There is a confirmed and a strong sell signal. The price continued to advance south. The Sterling is below the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement forming a “Dead Cross”. The downward movement will be until the price is below the Cloud.
The MACD indicator is in a negative territory. The price is consolidating.
We may expect the growth towards 1.4830 further on we expect a consolidation.