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Tatyana graduated from Bashkir State University with the major of Applied Mathematics and IT. She used to work as a system analyst in a large IT company. Entered the financial markets in 2008. Her trading system is based on classical technical analysis, Ichimoku indicator and the elements of fundamental analysis. Tatyana is very dedicated to her family and children. In her free time she enjoys rising a bicycle.

GBP/USD: bulls remain strong

Tatyana Norkina, FBS

Bullish optimism eased after facing resistance 1.7010 on Monday. Short-term traders are fixing profits, consolidating in a flat range below 1.6980. However, the market is not ready for a real correction –the pair may resume growth as long as it holds above 1.6940/1.6965.

Ichimoku. Cloud analysis shows that the bulls still remain strong. We expect growth after a retracement into the 1.6880 area. Buying looks risky these days.

Technical levels: support – 1.6880, 1.6940, 1.6965; resistance – 1.6980, 1.7000, 1.7030.

Trade recommendations:

1. Sell — 1.7030; SL — 1.7050; TP1 — 1.6940; TP2 – 1.6880.

2. Sell — 1.7000; SL — 1.7020; TP1 — 1.6940; TP2 – 1.6880 (from 16.06.2014).

GBP
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