GBP/USD: weekly Ichimoku analysis
Tatyana Norkina, FBS analyst
Daily. The cable crashed below the 1.6530/1.6540 support at the very beginning of the week, triggering new sales of GBP. As a result, the pair touched a new low of 1.6280. Ichimoku indicator remains bearish: all the lines are headed to the downside. However, Chinkou Span is strongly oversold.
Chart. Daily GBP/USD
H4. The picture is very similar on the H4 chart. We expect the price to consolidate at the current levels for some time.
Chart. H4 GBP/USD