FBS: trade recommendation for GBP/USD
Tatyana Norkina, FBS analyst
The pair retraced to 1.6160, formed by the lower H1 cloud border. After that we've seen a strong wave of buying that brought the price tp a weekly high of 1.6310. Market close above 1.6250 is a positive sign.
Ichimoku. The H1 picture is positive: bullish Cloud, golden cross. On the H4 the price fixed above the Tenkan and Kijun lines and holds within the Cloud. Bulls could easily target 1.6320 and 1.6360.
Technical levels: support – 1.6220, 1.6250; resistance – 1.6310, 1.6320, 1.6360.
1. Buy— 1.6260; SL — 1.6240; TP1 — 1.6330; TP2 — 1.6360.