FBS: trade recommendation for GBP/USD
Tatyana Norkina, FBS analyst
The pair descended to a strong support at 1.5960, breaking through the 1.6035-1.6070 range. British currency will likely stay under pressure in the nearest future.
Ichimoku. This could be confirmed on both timeframes. The Ichimoku Cloud is bearish: Clouds are widening to the downside, lines are also headed down. Next important level lies at 1.5935. However, the price may need a retest of 1.6000 in order to do that.
Technical levels: support – 1.5935, 1.5960; resistance – 1.6000.
Sell— 1.6000; SL — 1.6020; TP1 — 1.5935.