GBP/USD - Expected Upwards Movements

Pivot Points

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.2713	1.2725	1.2736	1.2748	1.2759	1.2771	1.2782
GBP/USD	1.6057	1.6070	1.6081	1.6094	1.6105	1.6118	1.6129
USD/JPY	106.58	106.73	106.94	107.09	107.30	107.45	107.66
USD/CHF	0.9446	0.9455	0.9463	0.9472	0.9480	0.9489	0.9497
AUD/USD	0.8728	0.8738	0.8746	0.8756	0.8764	0.8774	0.8782
EUR/GBP	0.7898	0.7906	0.7914	0.7922	0.7930	0.7938	0.7946
USD/CAD	1.1264	1.1271	1.1280	1.1287	1.1296	1.1303	1.1312
NZD/USD	0.7894	0.7905	0.7916	0.7927	0.7938	0.7949	0.8

Today's Chart: GBP/USD ( 4 HOURLY)

SUMMARY:

The primary trend of GBP/USD is pessimistic, however from last 2-3 weeks it is not sustaining at lower levels. The pair is consolidating near the important level of 1.6135 with a positive bias. For today if it breaks the level of 1.6135 we will see up to the degree of 1.6195. In its four hourly chart costs square measure taking support from thirty SMA & will show upper side movement for testing 200 SMA , RSI is additionally sustaining in shopping for teritory supporting a similar.
In MACD, MACD line has recently punctured the zero line & sustaining higher than it, giving positive sentiment to the try for next few sessions.
 
STRATERGY : 

GBP/USD is anticipated to indicate upper side movement these days. The try is trying sturdy on charts for next few session. One will go for get on dips strategy for this try for intra day to middle term positions.

TODAY’S ECONOMIC EVENTS 

Date MON OCT 20TH 2014	Time (GMT)	Currency	Economic Data	Forecast	Previous
	10:00am	EUR	German Buba Monthly Report
	12:30pm	CAD	Wholesale Sales m/m	0.20%	-0.30%
	2:00pm	USD	FOMC Member Powell Speaks

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