FX.co ★ Technical Analysis by Ishinoku - GBP/CHF - for August 29, 2011

H4
The bulls returned to the market of the pound-franc on Friday who did not let their opponents to continue the lowering movement inside a four-hour Ishimoku cloud.
Instead, the main upturning trend continues, to which Kumo points. Thus local maximums were tested (formed two weeks ago) and the rate of the pair was increasing to 1.3235.
It should be noted that both anticipation lines (1 and 2) are directed upside which conforms the desire of the market to recover further on. Moreover, short-term lines have consolidated (3) and intend to ascend as well.
In the nearest time the bullish trend seems actual.

H1
On an hour timeframe the situation on Friday changed: the prices upsurged puncturing the Ishimoku cloud thus appearing in the positive area.
During this time the cloud has altered and become increasing – the anticipation lines crossed and continue to grow (1, 2) strengthening the bullish sentiment on the market.
Moreover, the lines of Tenkan-sen and Kijun-sen also started the attack having formed the golden cross (5) above the Ishimoku cloud. Evidently, this was a good signal to continue the purchases which brought to the continuation of anti-trend today at the session opening – the prices surged to 1.3290.
Though on the way to increase the market may get resistance near 1.3360, which is formed by a 4-hour upper limit of the Ishimoku cloud. That is why from this mark a correctional decline is possible.