GBP/USD: weekly Ichimoku analysis
Tatyana Norkina, FBS analyst
Daily. Bearish sentiment dominates the GBP/USD market. Last week the currency pair renewed lows, descending into the 1.6655 area. Note that these are the new highs for the past four months. Break below the strong 1.6730 support that happened at the end of the past week was a strong bearish signal. Next target lies at 1.6620. There is a chance to recover into the 1.6770 area, though.
Chart. Daily GBP/USD
H4. The chart remains bearish, what is supporting the descending trend. Tenkan-sen and Kijun-sen is headed sideways. We have a short-term sideways trend, that may cause a correction.
Chart. H4 GBP/USD