GBP/USD: weekly Ichimoku analysis (12/09)
Tatyana Norkina, FBS analyst
Daily. The pair opened the week with a gap down. As a result, the exchange rate fell to new lows around 1.6050. However, by the end of the week buyers succeeded to close the "window", recovering to 1.6270. Daily Ichimoku still remains bearish: descending Cloud, active dead cross, all the lines are headed to the downside.
Chart. Daily GBP/USD
H4. The major trend on the H4 chart is also bearish. Tenkan and are trying to form a golden cross, but still couldn't do that. The pair is expected to descend towards 1.6160 in the nearest future (Tenkan and Kijun support). After that new buyers could reenter the game.
Chart. H4 GBP/USD