GBP/USD: breaking the cloud again
Tatiana Norkina, FBS analyst
We’ve discussed the theme of breaking the Ichimoku cloud on the four-hour timeframe in the previous review of this pair. The level of 1.5740 was really strong.
Therefore, after one of its regular testings at the beginning of the week, the currency pair has abruptly fallen off to the lower boundary - Senkou Span A but it was done only to become stronger and make another attempt to pass this resistance.
We saw the breakdown level and output of the price in the positive zone yesterday, which can make the bulls pleased because they can get a chance to take part in the recovery of the pair up to 1.5880.
Obviously, the couple will be consolidated above the cloud, which is currently bullish in the nearest future. Tenkan and Kijun are directed horizontally due to the correction from yesterday's growth.
Technical levels: support - 1.5690; resistance - 1.5765, 1.5800, 1.5880.
1. Buy - 1.5700; SL - 1.5680; TP1 - 1.5765; TP2 - 1.5800.