GBP/USD Comments 09|19|2006 Vincent Hunt

Needless to say our bearish view for this pair in the short term has been heavily challenged by a slight climb higher that could be contributed to the prevailing Moderate sized Kumo on the 1D and the prevailing Kumo on the 4H chart. Price now at 1.8812 has the pair positioned neatly between the Kijun-sen and the Tenkan-sen, 1.8847 and 1.8760 respectively. With a prejudice bias for the 1D view, I would like to see a clear gate above 1.8847 to see any upward momentum, which takes us above the Kijun-sen on the 1D and clear of the Kumo on the 4H – which then we will have a Kijun-sen support and a Senkou Span A Support that could hold the pair higher… However; with a fall below 1.8763 the current Tenkan-sen position we could gain enough downward momentum to head further south.

I am definitely sideline in the single pair…