GBP/USD: between heaven and earth
Tatiana Norkina, FBS analyst
The British currency has weakened considerably against the American last week. The currency pair has reached new lows in 1.5030, where a strong level of support has been formed on daily timeframe. Immediately after the test level, the pair became adjusted, punching resistance of Tenkan and Kijun.
Today the currency pair "hung" between supporting Tenkan and Kijun and also Ichimoku cloud. The lines may cancel the dead cross and form a gold one in the near future. In this case, we will see further corrective recovery in prices to the levels of the lower boundary of the four-clouds.
Short-term bullish trend of participants is supported by oscillators.
At the same time, the Ichimoku cloud is on the side of the long-term sellers.
Technical levels: support - 1.5120; resistance - 1.5170, 1.5250.
1. Sell - 1.5250; SL - 1.5270; TP1 - 1.5170; TP2 - 1.5120.
2. Buy - 1.5120; SL - 1.5100; TP1 - 1.5170; TP2 - 1.5240.