GBP/USD: negativity again
Tatiana Norkina, FBS analyst
Yesterday brought no positive sentiment to the market. The bulls failed to overcome the most powerful resistance in the 1.4970 area, which they had been testing since the previous week. As a result, the currency pair rate got back into the negative zone and trades are now carried out with a bearish bias.
However, the golden cross formed by the Tenkan and Kijun lines still remains relevant. But if the Kijun line support around 1.4840 fails to keep the pair at the current levels, we can witness prices around the past week's lows in the near future.
Technical levels: support – 1.4840, 1.4800; resistance – 1.4900.
1. Sell — 1.4830; SL — 1.4850; TP1 — 1.4770; TP2 — 1.4700.
2. Buy — 1.4880; SL — 1.4860; TP1 — 1.4970; TP2 — 1.5050.