4-часовой таймфрейм
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Overview:
On the GBP/USD chart, we can see an ascendant movement with frequent pullbacks. The ‘buy’ signal remains active, which automatically has set confirmed, as the price is higher than Ishimoku cloud and Chinkou Span is above the price curve. Therefore, in the nearest time, the purchases will be preferable. Also, the price has fixated above pivot level of 1.4944. Therefore, the uprising motion target remains the resistance level of 1.5201. Chinkou Span is positioned above the price curve that testifies to bullish sentiment. If the price fixes below Kijun-sen, it will mean the ‘buy’ signal weakening and long positions should be closed in this case. Bollinger bands indicate upward movement continuation – the bands are diverging again and up-directed. MACD is rising up signaling about upward motion.
Trading recommendations:
In this situation, bullish trading is advisable with target at 1.5201. Place stop loss below 1.4895. Close positions manually in case of MACD reversal downwards.
Besides technical picture, fundamental reports and time of their release should be considered also.
The chart annotation:
Ishimoku indicator:
Tenkan-sen — red line
Kijun-sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
The red line and the histogram with the white bars in the indicators window.
