FBS: trade recommendation for GBP/USD
After having set a new high of the last 2 weeks at the level of $1.6525, the pair closed in the red on Friday, exactly at the $1.6300 handle.
Ichimoku indicator. This corrective recovery may be now over as on H4 theprices fell under the support of Tenkan and Kijun. And on H1 GBP/USD may slide to the negative area, below the Ichimoku Cloud.
Note that the Tenkan-sen and Kijun-sen formed a Dead Cross, and Chinkou Span crossed the price chart from top to bottom. It means that the market’s bearish sentiment is strengthening.
Technical levels: support - $1.6235, $1.6260, $1.6400; resistance - $1.6340, $1.6410, $1.6360.
1. Sell - $1.6340; SL - $1.6360; TP1 - $1.6260; TP2 - $1.6235.