GBPUSD is forming a bullish pattern being influenced by the oil prices and the Brexit reports. It seems that the government speech concerning the Brexit issue has had a positive impact on the British. The pair is finding support at 1.4309 with resistance at 1.43590 both are above the weekly pivot point at 1.41830. There might be a strong resistance from 1.4467 to stop the pair from further growth. The price is above the Ichimoku Cloud and the Chin-kou Span. The Tenkan-sen is signaling an upward trend and the Kijun-sen is showing a horizontal trend. The MACD indicator is in positive territory confirming the price consolidation. The RSI is above the 50 level which means buyers are having a better opportunity. The EMA of 10 is above the EMA of 50 indicating the price growth over the last recent days. Buyers can target 1.4400 otherwise the price may reach 1.4320.
Technical analysis of GBPUSD dated 21.04.2016
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