GBP/USD: weekly Ichimoku analysis
Tatyana Norkina, FBS
Daily. The pair is now consolidating within the 1.7100-1.7200 range. Bulls tried to push higher last week, but the overbought market conditions hindered them to do that. The price has finally dropped into the Tenkan-Kijun channel. Next support is seen at 1.7000. However, the indicator itself is now looking bullish: active golden cross, bullish cloud.
Chart. Daily GBP/USD
H4. The H4 trend is disturbing. The pair returned into the Cloud and is going to fix here. Tenkan and Kijun lines formed a dead cross that is supportive for the bears. Next support lies at 1.7050.
Chart. H4 GBP/USD