GBP/USD: downtrend in force
Tatiana Norkina, FBS analyst
The currency pair rate continues plummeting. At the end of the previous week, we witnessed new lows below the 2013 levels around the 47th figure. Because of this, all indicators under consideration are strictly bearish. The dead cross and the downward Ichimoku cloud, the lowering MACD histogram, as well as the RSI line located under 30th figure speak of the bears power.
We do not rule out the possibility of the Tenkan-sen levels testing during the corrective recovery. But then the dowtrend will resume.
Technical levels: support – 1.4700; resistance – 1.4850, 1.4800.
1. Sell — 1.4800; SL — 1.4820; TP1 — 1.4700; TP2 — 1.4600.