GBP/USD
The current situation for the British pound is most understandable today in comparison with other world currencies. The pound closed Monday with growth, this morning the growth continues, indicators predict its further upward direction.
It remains for the price to rise above the MACD line on the daily chart (1.3717) in order to brace for growth to the embedded line of the price channel at 1.3888.
Marlin is moving sideways on the four-hour chart, but in an upward trend. The resistance of the MACD line is at 1.3727, slightly higher than it is on the daily scale, so it is advisable to wait for the price to reach exactly H4, above 1.3727.
This growing scenario has a non-hidden stone - an emerging triangle on H4. In case of its completion and the price going down, a downward momentum may develop to the lower border of the price channel in the area of 1.3643 (daily). Moreover, this border can be overcome.
The material has been provided by InstaForex Company - www.instaforex.com