GBP/USD: Ichimoku analysis (Mar. 14)
By Tatyana Norkina, FBS analyst
Daily. GBP/USD didn’t manage to stay in the positive area. Last week the bears were active. They breached the short-term support line and brought the pair to Tenkan-Kijun channel. This may mean a continuation of the sideways trend in the near future. Note that the Senkou Span A and Senkou Span B are directed horizontally, which also points at the flat market. The prices may decline to Kijun-sen (KS).
Chart. Daily GBP/USD
H4. Sideways trend is confirmed at H4 as well. Already at the beginning of the week the pair found itself inside the Cloud. Then it repeatedly tested the boundaries of the Cloud, but failed to go beyond it. By the end of the week the pair once again returned to the Cloud’s bottom, indicating the superiority of the bears. Because of this the nature of clouds has changed. The probability of the prices falling below the Cloud is high.
Chart. H4 GBP/USD
To contact the writer of this story: Tatyana Norkina, firstname.lastname@example.org