The dynamics of business activity indicators in the US and the UK services sector deserves attention: according to the results of the February PMI spread has moved in favor of the United States, and it takes the bull by GBP trumps.Earlier, in January, the differential performance was in favor of the UK. The service sector is selected for a reason - that this area is the basis of the GDP of both economies.
GBP / USD (4-hour chart)
Tool Breaks Through 1.4240 and quotes reached nearly two-week maximum values on the way to the level of 1.4320.
In the area of 1.4240 is the first support below - 1.4160. In the area of 1.4320 is the first resistance, above - 1.4400. A buy signal is strong and confirmed. Price is above the Ichimoku cloud and Chinkou-Span is below the price level. The Tenkan-sen and Kijun-sen show an upward movement. The urgency of the upward movement will continue as long as the price is above the Ichimoku cloud. The MACD histogram is in the positive zone. The price is rising.
In the short term there is a possibility of upward impulse. If this scenario is implemented, targets are to be presented at 1.4320 and 1.4400 .
Technical Analysis Fort Financial Services