FBS: trade recommendation for GBP/USD
By Tatiana Norkina, FBS analyst
British currency remains under intense pressure amid concerns over the independence of Scotland referendum. Today’s auction began with a significant gap down to $1.6170. However, even after such gap the currency pair continues renewing minimums falling to the area of $1.6145.
Ichimoku indicator. On both timeframes the situation remains unchanged: the Clouds are bearish and there are active Dead Crosses.
It’s also worth noting that the lines are directed straight down, which once again proves the strength ofthe bears.
The only thing thatcan keepthe pairfroma further quick fall is the fact that it’s oversold. At the same time, the next strongest level of support is located only at the level of $1.6070.
Technical levels: support - 1.6070, 1.6150; resistance - 1.6220, 1.6250.
1. Sell - 1.6220; SL - 1.6240; TP1 - 1.6070.