GBP/USD with Tatyana Norkina (June 4)
Tatyana Norkina, FBS analyst
Sellers captured the GBP/USD market. The bulls failed to push above the hourly Cloud boundary. As a result, the pair broke below the 1.6740 support.
Ichimoku indicator. The hourly Tenkan and Kijun lines crossed, building a dead cross. The Ichimoku Cloud turned back to bearish.
On the H4 chart there are also plenty of bearish signals: negative Cloud and the narrowing Tenkan-Kijun channel. The market may form a dead cross in the coming hours. Evidently, bulls haven't got too many chances these days.
Technical levels: support – 1.6716, 1.6700; resistance – 1.6740.
1. From 02.06.2014. Sell — 1.6785; SL — 1.6805; TP1 — 1.6720; TP2 – 1.6700 (hold till the second take profit).
2. Sell — 1.6740; SL — 1.6760; TP1 — 1.6700; TP2 – 1.6630.