FBS: trade recommendation for GBP/USD
By Tatiana Norkina, FBS analyst
British pound weakened considerably by the end of yesterday’s trading day. Happy bulls tried to restore the currency pair to $1.7000, but this attempt showed only that the buyers are weak.
Ichimoku indicator. Thus, the market remained in a bearish trend, which was confirmed and by the Ichimoku indicator on the different timeframes. Clouds are still descending, there are active Dead Crosses, aggravated by the formation of new local minima.
The pair’s trading just above the $1.6930 support, but in the near future currency it may fall to the $1.6900 figure.
Technical levels: support - 1.6900, 1.6930; resistance - 1.6940, 1.6950.
1. Sell - 1.6940; SL - 1.6960; TP1 - 1.6900.