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.

FBS: GBP/USD seeks correction

Tatyana Norkina, FBS

The British currency failed to fix above 1.7130 on Friday, as there are a lot of resistance levels ahead. 

Ichimoku. H4: There are the upper border of the Cloud and the Kijun and Tenkan lines lying at 1.7130. The price is now trying to fix below them. This could trigger selling of the cable and pull the pair down to 1.7090 or even 1.7050.

H1: the pair is trading below the Cloud. The indicator is strongly bearish: descending Cloud, dead Cross. Break below the 1.7110 support is likely to cause a decline of the pair. 

Break above the 1.7130 and a fix above it would confirm the end of the consolidation phase and the resumption of growth. 

Technical levels: support – 1.7110, 1.7090; resistance – 1.7130.

Trade signals:

1. Sell — 1.7110; SL — 1.7130; TP1 — 1.7090; ТР2 – 1.7050.

2. Buy — 1.7130; SL — 1.7110; TP1 — 1.7160; ТР2 – 1.7220 (limit order).

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