GBP / USD: Pound strengthens
Tatiana Norkina, an analyst at FBS
Having resisted over a four-hour Ichimoku cloud at the end of last week, the currency pair has grown rapidly in the 54th figure. Here, as we recall, strong resistance was formed. But it did not survive under the pressure of the bulls.
Now all the lines of Ichimoku indicator are directed upward, which is indicating bullish market in both the short and long-term prospects.
Oscillators are also going to support byus of the pair.
However, it should be noted that the location of the line Chinkou Span overbought can thwart short term buyers , forcing the price back to 1.5350.
If will be able to gain a foothold above $ 1.5400, very soon we will see a strong test of the next level in the area of 55th figure.
Technical levels: support - 1.5400, 1.5350; resistance - 1.5500.
1. Buy - 1.5400; SL - 1.5380; TP1 - 1.5500; TP2 - 1.5540.