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 : bears increased pressure

Tatiana Norkina,  FBS analyst

As we have seen, the currency pair tried to recover last week. However, resistance at 1.5260 stopped short-term positions of the bulls who have tried to adjust the currency pair after a collapse. As a result, prices broke down 1.5170 support of Tenkan and Kijun by the end of the week and went down to the lower boundary of the four-hour cloud. Obviously, the breakdown of this level will be taken as a signal for the resumption of the downtrend. Otherwise, short-term bulls can hope for growth of the exchange rate up to the cloud’s top.

Technical levels: support - 1.5100 / 20; resistance - 1.5160 / 70.

Trading recommendations:

1. Sell - 1.5160 / 70; SL - 1.5190; TP1 - 1.5070; TP2 - 1.5040.

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