GBP/USD: bulls are so resilient
Tatiana Norkina, FBS analyst
British pound recovered after 3 days o fdeclines to support at 1.7090. Last time I sad that the correction may be over at this level.
Ichimoku indicator. The level of 1.7090was formed bythe upper boundary ofthe Cloud at H4 and the lower boundary of the Cloud at H1. Bouncig up, which we observed yesterday, led to a recovery in prices to the 1.7130/1.7135 resistance area. However, during today’s morning session the bulls look more convincing: the breakthrough of the top can make prices go higher. But for stronger growth GBP/USD has to gain a foothold above the Cloud, which, obviously, will be happening inthe near future.
Technical levels: support - 1.7115, 1.7030; resistance - 1.7155/1.7160, 1.7220.
1. Buy - 1.7130; SL - 1.7110;TP1 - 1.7160; TP2 - 1.7220.