FBS: trading recommendation for GBP/USD
By Tatyana Norkina
British pound failed to recover above $1.6410 yesterday. Attempts of the bulls to settle above the $1.6400 handle were unsuccessful, and in the evening the pair was trading in the area of support at $1.6360.
Ichimoku indicator. On H1 this led to the breakdown of the Ichimoku Cloud support with the subsequent formation of the Dead Cross and a more bearish Ichimoku Cloud.
On H4 we also see strengthening of the sellers: prices went into the negative zone, and the Cloud is changing and may soon become descending.
Technical levels: support - 1.6300, 1.6260; resistance - 1.6340, 1.6360.
1. Sell- 1.6340; SL - 1.6360; TP1 - 1.6300; TP2 - 1.6260.