FBS: trade recomendation for GBP/USD
Tatyana Norkina, FBS analyst
The price consolidated in a wide 1.6440-1.6500 range yesterday, but the overall bearish sentiment persists. However, note that the pair is oversold.
Ichimoku. The H4 Ichimoku remains strongly bearish. The Tenkan line strengthens the imapact of the dead cross. The H1 Cloud widened to the downside; short-term levels formed a dead cross. Fix below 1.6460 will open the way to 1.6320 in the near term.
Technical levels: support – 1.6320, 1.6450; resistance – 1.6470, 1.6500.
1. Sell — 1.6450; SL — 1.6470; TP1 — 1.6320.