GBP/USD: market in expectation
Tatiana Norkina, FBS analyst
The currency pair has held above the 52nd figure, without going into a deep correction after a week of growth. The pair is trading in the neutral zone between the four-hour lines of Tenkan and Kijun. It should be noted, though, that the dead cross has still a negative effect on the short-term market participants sentiment. At the same time, the cloud is set for further expantion upwards, reinforcing the long-term bullish trend.
If the Tenkan-sen support withstands in the near future, we will expect a break through the range upwards and growth to the past week's highs.
Technical levels: support – 1.5200, 1.5240; resistance – 1.5350, 1.5285.
1. Buy — 1.5240/60; SL — 1.5220; TP1 — 1.5280; TP2 — 1.5350.