Tatyana graduated from Bashkir State University with the major of Applied Mathematics and IT. She used to work as a system analyst in a large IT company. Entered the financial markets in 2008. Her trading system is based on classical technical analysis, Ichimoku indicator and the elements of fundamental analysis. Tatyana is very dedicated to her family and children. In her free time she enjoys rising a bicycle.

GBP/USD: pound giving in to dollar

 Tatiana Norkina, FBS analyst

The British currency has fallen significantly against the US dollar. At the end of previous week, we witnessed strong sales that were the result of the break through the Ichimoku cloud support followed by the prices fixing in the negative area.

The four-hour picture has become fully bearish: Ichimoku cloud is now of a downward direction, and, at the same time, the dead cross formed by the Tenkan and Kijun lines is relevant.

But the 1.5000/50 area is marked by a strong support that will stop the sellers today. However, the growth will be only corrective so far, up to the Tenkan and Kijun lines. After testing of the 51st figure level, the downtrend may continue.

Technical levels: support – 1.5000, 1.5050; resistance – 1.5120/50.

Trade recommendations:

1. Sell — 1.5130; SL — 1.5160; TP1 — 1.5050; TP2 — 1.5000.

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