14 Mar 2014; GBPUSD
From my technical charts, the pound is in for a upward trend. Strong support is at 1.660. CCI(14) indicate an oversold. From Oanda order, there is also more long orders below the price.
US market reveal data that shows a recovering economy. The unemployment claims drop more than expected. - But that does not explain why the USD move up against the pound. The release of the US news in fact pull the pound down from the afternoon high of 1.6710 and back to 1.660. - Giving an opportunity to buy.
Now the question is when to enter a good buy to ride the CCI(14) wave before a break out of the BB(14, 1.2). A good suggest price is the support line at 1.660-1.6620.
Depends on the news that comes from US PPI at 2030hrs GST - to buy at a lower price or wait for a break north confirmation.
The next support is at 1.650, resistance at 1.668
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