GBP/USD: imminent threat
Tatiana Norkina, FBS analyst
The currency pair is under risk of collapsing. Consolidation, which lasted for the whole past week, might end as early as today - the prices have gone below the cloud, into the negative zone, failing to overcome the Tenkan and Kijun lines resistance in the 49th figure area. The latter have started to form a dead cross, which is definite to support the bearish sentiment on the market.
Senkou Span A is turning downwards as well, extending the negative cloud.
Therefore, we do not rule out the downtrend resumption today.
Technical levels: support – 1.4840, 1.4800; resistance – 1.4900.
1. Sell — 1.4840; SL — 1.4860; TP1 — 1.4770; TP2 — 1.4700.