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: 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.

Trade recommendations:

1. Sell — 1.4800; SL — 1.4820; TP1 — 1.4700; TP2 — 1.4600.

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