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Tatyana graduated from Bashkir State University with the major of Applied Mathematics and IT. She used to work as a system analyst in a large IT company. Entered the financial markets in 2008. Her trading system is based on classical technical analysis, Ichimoku indicator and the elements of fundamental analysis. Tatyana is very dedicated to her family and children. In her free time she enjoys rising a bicycle.

GBPUSD: weekly review (05/12)

Tatiana Norkina, analyst at FBS

1.5600 support still doesn’t pass bears to new lows. Consolidation above this level keeps going on for almost a month. The Tenkan-Kijun channel has narrowed within this period due to decrease of the Kijun line. It’s possible that there may appear a jump of the exchange rate to the 58th figure area only on purpose of corrective recovery. Herewith, the main downtrend is still powerful.

 

Chart. Daily GBP/USD

 

H4. The currency pair was traded mostly below the Ichimoku Cloud at the four-hour timeframe. Bullish attempt to overcome this resistance at the beginning of the week has failed, though it is also difficult for bears to break such a strong support. The attention should be paid to the Dead Cross’s foundation character - Tenkan and Kijun lines turned up. That is to say, despite of the cloud’s negative character  short-term bulls can attack again.

 

Chart.H4 GBP/USD

GBP
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