GBPUSD ANALYSIS AND NEW ORDER : BUY 0.2 LOT GBPUSD AT MONDAY'S OPENING WITH S/L 1.63 AN TARGET 1.6920 AND 1.73

UDATE 16/02/2014:  Bought  0.2 lots  GBPUSD at 1.6785

15/02/2014:GBPUSD IS GETTING READY TO BREAK 5 YEARS RANGE

In the last few months UK economy has been growing steadily and unemployment has started to fall, making the pound stronger. As it can be seen below in the monthly chart GBPUSD has reached the upper level of a multiyear range and is seems that is poised to go higher. Level to watch are 1.6760 and 1.7065. A  monthly close above will confirm the break  and clear  the path for 1.8000   

In the weekly  chart  below we see that  the pair finished  last week  in  the highs  with buyers pilling  up  after the release of inflation report and  Carney’s speech  last Wednesday. MACD and ROC show slight bear divergences but stochastic is not yet in extremely overbought levels.

                   

In the daily chart we see that the pair has made a clear break and is heading higher with target 1.6920 and then 1.7300.  All indicators are bullish with no signs of divergences