GBP/USD: bulls gone into counterattack
Tatiana Norkina, FBS analyst
The 50th figure has managed to constrain a new wave of currency pair sales. Yesterday's, yet another, testing of this support level showed that the bears are not yet ready for resumption of the major downtrend. During the day, the pair has broken through a powerful resistance of three Ichimoku lines and entered the cloud.
Following the prices, oscillators turned upwards as well, indicating a change in the short-term trend.
At the same time, all Ichimoku lines are directed sideways, maintaining neutrality. It is understandable as the bulls have a strong level in the form of the cloud upper border ahead of them.
Under such circumstances, one can stick to the side of short-term buyers, but only after the prices rollback to the Tenkan or Kijun lines.
Technical levels: support – 1.5100; resistance – 1.5200, 1.5285.
1. Buy — 1.5110; SL — 1.5090; TP1 — 1.5190; TP2 — 1.5280.