FBS: bearish on GBP/USD
Tatyana Norkina, FBS analyst
The pair consoliadtes around the 1.7050/1.7060 support. At the same time, the Ichimoku indicator is turning more and more bearish.
Ichimoku. The Cloud is getting ready to become negative, while the dead cross becomes stronger. On the hourly chart the price proved unable to break the lower border of the bearish Cloud. The pair has been trading below Senkou Span for a third consecutive day. For this reasons we maintain a short-term bearish view on the cable.
Technical levels: support – 1.6990/1.7000, 1.7060; resistance – 1.7090.
Sell — 1.7080/1.7090; SL — 1.7120; TP1 — 1.7030; ТР2 – 1.6990.