📶 Free Forex Signals: GBPUSD April 2014

In this TCI analysis, we will examine GBPUSD using the TCI model, statistical trends, and fundamental updates. Historically, April has been a strong month for the British Pound against the US Dollar, while May typically brings a correction for GBPUSD. Important economic news and updates are expected between April 30 and May 8, affecting both the US and UK economies.

• Forex Asset: GBPUSD
• TCI Forecast: Possible Uptrend (↑)
• Target Level: 1.7000

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🌍 Macroeconomic Outlook

The British Pound is gaining strength ahead of key news releases and the Bank of England’s meeting on May 8, 2014. Investor confidence in the UK economy is rising, which is clearly reflected in the Pound’s performance so far in 2014. Although concerns about the UK’s current account deficit remain, the economy continues to grow, a trend expected to be confirmed by the first-quarter GDP report. Additionally, rising housing prices combined with increasing wages may create the conditions for an interest rate hike to address inflationary pressures.

Regarding the US Dollar, a critical period of important announcements is underway from April 30 to May 2, 2014. It is advisable to avoid trading the US Dollar during these days unless you have a thorough understanding of the market.

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📈 GBPUSD Technical Analysis

At present, GBPUSD is trading between 1.6830 and 1.6850. Here are some important supply and demand levels to watch.

Short-Term Supply Level: If the optimistic scenario holds, the target range for GBPUSD is 1.7000–1.7035. At this level, a correction lasting 1–2 trading days or even a full reversal should be expected.

■ 1.7000 / 1.7030 / 1.7150

Short Term Demand Level: In the case of a downtrend, strong demand is expected first at 1.6780.

■ 1.6780 / 1.6750 / 1.6720

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⚙️ Forex TCI on GBPUSD

The TCI indicator confirms an uptrend for GBPUSD, although it is not yet a very strong trend.

Here are some important dates for GBPUSD based on the TCI model:

■ April 30: Potential local high followed by a correction

■ May 1: Possible completion of the correction, likely in the late hours

■ May 6: Selling target

Below are all the TCI indications for GBPUSD.

Table: TCI on GBPUSD

Date	Close	High	Low	Volume	Volatility	Price Change	TCI
2014.04.21	1.67898	1.68177	1.67822	28295	0.20%	-0.03%	1.23%
2014.04.22	1.68231	1.68384	1.67852	67615	0.30%	0.20%	1.40%
2014.04.23	1.67795	1.68349	1.67618	87144	0.40%	-0.26%	0.77%
2014.04.24	1.68002	1.68054	1.67647	76958	0.20%	0.12%	1.03%
2014.04.25	1.67982	1.68307	1.67892	63258	0.20%	-0.01%	0.93%
2014.04.28	1.68447	1.68534	1.67768	30322	0.50%	0.28%	1.38%
(+1 Trading Days) April, 29th							1.24%
(+2 Trading Days) April, 30th							1.52%
(+3 Trading Days) May, 1st							1.36%
(+4 Trading Days) May, 2nd							1.44%
(+5 Trading Days) May, 5th, Monday							1.44%
(+6 Trading Days) May, 6th							1.65%
(+7 Trading Days) May, 7th							1.44%
(+8 Trading Days) May, 8th							1.38%
(+9 Trading Days) May, 9th							1.35%
(+10 Trading Days) May, 12th, Monday							1.39%
(+11 Trading Days) May, 13th							1.19%
(+12 Trading Days) May, 14th							1.10%
(+13 Trading Days) May, 15th							0.79%
(+14 Trading Days) May, 16th							0.74%
(+15 Trading Days) May, 19th, Monday							0.84%
(+16 Trading Days) May, 20th							0.91%
(+17 Trading Days) May, 21st							0.96%
(+18 Trading Days) May, 22nd							1.11%
(+18 Trading Days) May, 23rd							0.96%

Note: The TCI model generates probability scenarios based on real price action but cannot predict the future—no technical analysis model can. Therefore, be aware that breaking news can always invalidate any probability scenario.

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📊 GBPUSD Statistics

Historically, April has been a strong month for GBPUSD, with an average gain of +1.32%, while May tends to be weaker, averaging a loss of -0.50%. Below are the historic statistics for GBPUSD, based on 13.5 years of research by TradingCenter:

■ APRIL: Average Change +1.32% (12 times up, 2 times down)

■ MAY: Average Change -0.50% (4 times up, 10 times down)

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📰 Upcoming Forex News

Here are the upcoming news and events related to GBP, USD, and other Forex currencies.

 

 ■ George Protonotarios (April 28th, 2014)

Trading Center’s Free Forex Signals: GBPUSD