Pound past danger zone
Tatiana Norkina, FBS analyst
The bullish sentiment on the market has yet allowed the currency pair to consolidate above the Kijun-sen line that has formed a powerful support at the 1.4930 level mentioned in the previous review.
In its turn, the absence of sellers at these levels has led to a massive surge in purchases which resulted in the pair's rate soaring under the 52nd figure. The four-hour chart has transitioned to entirely bullish, forming a new golden cross and expanding the cloud upwards. Therefore, the uptrend is likely to remain in the near future. The bulls' goal might be the 1.5300-1.5350 range.
Technical levels: support – 1.5150, 1.5125; resistance – 1.5210, 1.5280.
1. Buy — 1.5150; SL — 1.5120; TP1 — 1.5210; TP2 — 1.5280.