GBP/USD: Ichimoku analysis (Apr. 11)
Tatiana Norkina, FBS analyst
Daily. The pair found support at the lower boarder of the Cloud and recovered to February highs last week. Prices touched 1.6820, but the chance of a correction increased at the end of the week. Cable is expected to find support at Tenkan and Kijun lines that form a bullish cross. The pair is expected to extend growth after that.
Chart. Daily GBP/USD
H4. The pair moved into the positive territory, breaking above the Ichimoku resistance. As a result, the picture turned bullish: Tenkan and Kijun lines created a golden cross, the Cloud has become bullish. However, the overbought market conditions may pull the pair down to 1.6700 (Kijun-sen).
Chart. H4 GBP/USD