Please refer daily GBP/USD charts for the following analysis.
1) ADX: GBP/USD daily +DI remains over -DI line and the bullish gap has widened up sharply. ADX is below 25 but is rising to indicate a rising upward momentum though a trend is not really indicated as of now (approx. 22.00).
2) MACD: GBP/USD daily MACD line moved over the signal line. The weekly MACD seems to be in the early stage of moving over the signal line to give a bullish signal.
3) GBP/USD Daily Ichimoku Cloud: The last crossover signal was on March 19, 2013. Tenkan-sen had moved over Kijun-sen to give a weak bullish signal as the crossover took place below the cloud. The price action moved well over the cloud after some volatile vomes near the upper edge support level. Tenkan and kijun lines are overlapping each other to indicate a lack of bullish or bearish signal/sentiment.
Go to GBP/USD Weekly Outlook.
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Go to GBP/USD Daily Analysis.
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