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: Ichimoku analysis

Tatiana Norkina, FBS analyst

The currency pair is actively growing, supported by the bullish sentiment after the recent fix above the 1.70 figure. Pound rose to 1.7160 over the past two days, but we believe that the major target lies at 1.7220.

Ichimoku. This level is seen on the H4 timeframe. At the same time, the overbought market conditions may pull the pair down into the 1.7090 support area. However, the smaller levels on the hourly chart may contain correction. Watch the 1.7130 level: the pair may get there today. Another strong support lies at the 1.7000 mark. If the price enters the cloud, consolidation at these levels may last longer. In such market conditions it is too early to buy and too risky to sell. 

Technical levels: support – 1.7090, 1.7005, 1.7030; resistance – 1.7160, 1.7220.

Trade recommendations:

1. Sell — 1.7160; SL — 1.7180; TP1 — 1.7130; TP2 – 1.7105.

2. Buy — 1.7130; SL — 1.7110; TP1 — 1.7160; ТР2 – 1.7220.

3. Buy — 1.7005; SL — 1.7080; TP1 — 1.7160; ТР2 – 1.7220.

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