GBP/USD: pound is going to strengthen
Tatiana Norkina, analyst at FBS
Growth of the currency pair temporarily stopped. The main reason is the lower bound of daily cloud, which currently serves as powerful resistance.
Сorrective depreciation of the currency pair is noticed on four-hour lines. Support is formed by a horizontal line Kijun-sen just above the 53rd figure.
To our mind, the retention of this level will be a signal for further increase in risk among average time traders. Otherwise, we don’t exclude decrease of prices to the lower border of the Ichimoku cloud to 1.5200 or even to 1.5150.
Technical levels: support - 1.5300 / 20; resistance - 1.5400.
1. Buy - 1.5320; SL - 1.5300; TP1 - 1.5400; TP2 - 1.5440.