GBP/USD: weekly Ichimoku (June 6)
Tatyana Norkina, FBS analyst
Daily. Cable remains in a corrective phase. The pair spent the week on the upper boundary of the Cloud. At the same time, the 1.6700 figure acted as a strong support, giving the pair a lift to 1.6820. Price broke above the Tenkan-sen resistance and is set to test Kijun-sen in the near term.
Chart. Daily GBP/USD
H4. The pair entered the Ichimoku Cloud. Tenkan and Kijun lines formed a bullish golden cross by the end of the week. The pair may soon test the upper border of the Ichimoku. However, there is a chance of a short-term dip to the lower border of the Cloud.
Chart. H4 GBP/USD