GBP/USD: Ichimoku analysis (Mar. 21)
Tatiana Norkina, FBS analyst
Daily. The currency pair extended the corrective decline, falling to the lower boarder of the daily Cloud. As a result, 1.6535 support was broken. The short-term picture turned bearish: Tenkan and Kijun lines form a bearish cross. In the near term the pair may consolidate above the upper boarder of the Cloud and rebound towards the Tenkan line.
Chart. Daily GBP/USD
H4. The bears started to attack as cable fixed below the Cloud early in the week. As a result, Tenkan and Kijun lines formed a dead cross that will stay active on the next week. The Cloud is now bearish. The pair is to stay in the negative zone.
Chart. H4 GBP/USD