GBP/USD: Ichimoku levels
Tatyana Norkina, FBS analyst
Resistance at $1.7160 has been restraining the bulls during the last 5 days. Today’s move down from this mark can make the market perform a correction in the short term.
Ichimoku indicator. The level $1.7090 looks rather distinct – a correction may develop up to this point. At H4 this is Kijun-sen, at H1 – the bottom border of the Ichimoku Cloud. There is also an intermediate support in the area of $1.7130. So, today the pair will be likely trading within the Cloud. In the longer term, however, we can expect the resumption of primary uptrend.
Technical levels: support - $1.7090, $1.7005, $1.7030; resistance - $1.7160, $1.7220.
1. Sell - $1.7150/1.7160; SL - $1.7180; TP1 - $1.7130; TP2 - $1.7105.
2. Buy - $1.7090; SL - $1.7070; TP1 - $1.7160; TP2 - $1.7220.