GBP/USD: punching the cloud
Tatiana Norkina, an analyst at FBS
Consolidation that took place in the second half of the week in a four-hour Ichimoku cloud seems to be coming to an end. With the support of Tenkan and Kijun in the 57th figure, bulls went on the offensive and attacked the cloud top today. Obviously, breakdown of this level and transition into the positive zone are possible soon. Note that the cloud's nature has changed to bullish. Golden Cross, formed by Tenkan and Kijun, remains active.
Line oscillators are also growing, which gives a reason to believe in retention of a positive trend for this pair.
Technical levels: support - 1.5630; resistance - 1.5700, 1.5740 / 65.
1. Buy - 1.5730 / 40; SL - 1.5610; TP1 - 1.5765; TP2 - 1.5800.