Saturday 4 April 2015

GBP/USD Broke Above (89)MA On the 4-hour Filter Chart





The GBP/USD pair spent the past two weeks testing the resistance around the 1.4880 - 1.4900 level, which coincided with the (89)MA on the four-hour filter chart, but it finally managed to break above it after the US Non-farm Payrolls yesterday. Considering that together with the multiple doji candlesticks on the daily filter chart, I think the pair will continue climbing at least until it reaches the resistance at 1.5060. Should it manage to break above it, it might even reach 1.5270, which coincides with the (89)MA on the daily filter chart.

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