GBP / USD: a return above 1.5600
Tatiana Norkina, FBS analyst
The currency pair turned back to the lower border of the four-hour Ichimoku cloud barely updating minimum to 1.5540, that is, above the recent 1.5600 support. The situation has started to change here in favor of the bulls, as far as Tenkan and Kijun lines began forming a golden cross this morning and the cloud started to сontract upwards due to Senkou Span A’s growth.
MACD and RSI confirm growth of bullish sentiment in the market.
Therefore, overcoming the resistance of the 57th figure is likely to provoke rise to the top edge of the cloud - 1.5740 / 65.
Otherwise, bears will continue to attack.
Technical levels: support - 1.5630; resistance - 1.5700, 1.5740 / 65.
1. Buy - 1.5630; SL - 1.5610; TP1 - 1.5740; TP2 - 1.5765.
2. Sell - 1.5620; SL - 1.5640; TP1 - 1.5500; TP2 - 1.5460.