Posted on May 14, 2015 10:21
Great British Pound getting stronger against the US dollar since last 7 days and the average rate is more than 100 pips per day. Since last 4 days, sterling daily candle closed in bullish trend with high volume.
Ichimoku cloud signal is strong bullish for this pair. Tenken sen has crossed kijun sen in h1 graph, above then the clouds and the slope is positive till now. Chikou span is above then the hourly candles. Senko span A is above then the senko span B and the clouds color and direction turned in to bullish direction.
On the other scenario this pair is finding strong resistance area near 1.5785, the high of 16th December,2014.If bulls succeeded to pull above 1.5785, then open door for 1.5825 and 1.5940 area, respectively. We prefer to correction trade today and wait for a better price.