GBP/USD: at the Crossroads
Tatiana Norkina, FBS analyst
Currency pair failed to hold within a four-hour Ichimoku cloud. Over the last two days trading has been actively conducted in the negative region, even with the formation of a dead cross by Tenkan and Kijun.
In general, there would be an attractive picture of sales for the currency pair, if not one "but": the market is currently strongly oversold, as is clear from the daily chart. At the same time, we see that the third week in a row continues to consolidate in the range of 1.5050-1.5250. Therefore, fixing prices for a four-hour cloud can give a good signal for the resumption of the downtrend. Otherwise, we will wait for corrective recovery to the cloud top, in the area of 54th figure.
Technical levels: support - 1.5130; resistance - 1.5190.
1. Sell - 1.5180 / 90; SL - 1.5210; TP1 - 1.5080; TP2 - 1.5000.