GBP/USD: the growth accelerates

Tatiana Norkina, an analyst at FBS

Last week bulls managed to tip the scales in their favor. The breakdown of the upper boundary of the four-hour Ichimoku cloud had happned, as a result the currency pair jumped to the level of 1.5350. Now trading is conducted in the positive zone, which with respect to the change of the nature of the cloud to bullish, provides players good opportunities for medium-term purchases. But, at the same time,one should wait for Chinkou line from the overbought area, as these conditions do not exclude the price correction to  Kijun line, under the 52 th figure.

Technical levels: support - 1.5200, 1.5170; resistance - 1.5350, 1.5285.

Trading recommendations:

 1. Buy - 1.5200; SL - 1.5180; TP1 - 1.5280; TP2 - 1.5350.

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