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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.

GBP/USD: expecting new lows

 Tatiana Norkina, FBS analyst

By the end of the week, the currency pair has consolidated inside the Tenkan-Kijun channel, letting the bulls this morning test the resistance formed by the upper border of the channel - the Kijun-sen line.

The pair recovery has been supported by the oscillators as well. Thus, the MACD histogram has grown up to the zero mark, and the RSI line - to the middle of the range.

However, the main downtrend is still in effect, since the active dead cross keeps the Ichimoku cloud bearish. Let us not rule out a short-term break through the Kijun-sen resistance and testing of a lower cloud border. But then, the bears will be obvious to try and update the lows of the previous week.

Technical levels: support – 1.5500, 1.5530; resistance – 1.5580, 1.5610.

Trade recommendations:

1. Sell — 1.5570; SL — 1.5610; TP1 — 1.5500; TP2 — 1.5410.

GBP
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