13 Mar 2014; GBPUSD
The US market finish side ways. It seems that the market is cautious about the commodity prices which has fallen - that reflect the lower demand from China - a further indication that the Chinese economies is slowing down.
In the UK, the numbers of house buyers slowed.
As such - GBPUSD pair moved side way.
Daily WMA5 entered EMA21 and EMA55 and hover between these lines which acts as resistance and support.
Today, watch out for US unemployment claims at 2030hrs SGT and that may determine and move the pound above or below EMA21 or EMA55.
In the meanwhile, the expectation is a reversal based on CCI(14). There is no indication of reversal yet. As such, the price is expect to hover between 1.665 and 1.658
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