Technical analysis of GBPUSD dated 28.04.2016

Pound is getting stronger due to the growth of the UK economy, UK Gross Domestic Product and the 10-year UK government bonds yield. Yesterday GBPUSD moved in bearish bias but today it gained momentum and pushed itself upward. The support is at 1.45100 with resistance at 1.46000 which both lines are above the weekly pivot point at 1.43270. All indicators are showing price growth for now. The MACD is in positive territory, the RSI is above 50 level and the stochastic is showing an upward trend. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan sen is showing an upward trend while the Kijun sen is showing a horizontal trend. The resistance level breakout will be a good chance for buyers. However there might be a rebound from today’s growth and the price may fall and break the support level at 1.45100. There is no clear signal for today GBPUSD trade.

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