GBP/USD: bulls are slow to act

Tatiana Norkina, an analyst at FBS

At the beginning of the week we saw once again a sharp recovery of the currency pair, as the results prices were inside of Ichimoku cloud. However, they had failed to stay here for a long time: yesterday bears stepped up pressure on the pair again, now trading is conducted in the negative region, under the cloud. Oscillators reacted accordingly, falling to minimum values.

At the same time, the attention should be paid to the non-standard behavior of the lines Tenkan and Kijun that began forming a golden cross. In such circumstances, further consolidate at current levels and the return rate to 1.5670 / 1.5700 are possible.

Technical levels: support - 1.5570, 1.5610; resistance - 1.5670, 1.5700.

Trading recommendations:

1. Sell - 1.5670; SL - 1.5700; TP1 - 1.5610; TP2 - 1.5570.

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