FBS: trade recommendation for GBP/USD
Tatyana Norkina, FBS analyst
Ichimoku. The currency pair demonstrates strength after the Friday's drop below the hourly Cloud. Yesterday the price traded around the lower Ichimoku boundary, but bulls won the short-term battle. In the evening the Cloud resistance was broken and the prices turned positive. At the same time, Tenkan and Kijun sen formed a golden cross, the Cloud turned bullish, confirming the market optimism.
The pair is expected to test 1.6410 and 1.6430 before returning to 1.6360.
Technical levels: support – 1.6340, 1.6360; resistance – 1.6410, 1.6430.
Buy— 1.6370; SL — 1.6350; TP1 — 1.6410; TP2 — 1.6430.