Tatiana Norkina, FBS analyst
The pound seems to have finished the two-week tumble. Consolidating in the 52nd figure area, the GBP/USD currency pair rate was recovering to the 1.5360 mark yesterday, having broken through the four-hour Tenkan-Sen and Kijun-Sen lines resistance.
The current growth is obvious to be merely corrective: the major obstacle for the bulls will be the Ichimoku cloud which is already in close proximity to the current levels.
It should be noted at the same time that the Tenkan-sen and Kijun-sen lines have cancelled the dead cross effect. Consolidation between the lines and the cloud's lower border is possible in the near future.
Technical levels: support – 1.5300, 1.5275; resistance – 1.5370/80, 1.5450.
1. Buy — 1.5300; SL — 1.5280; TP1 — 1.5370; TP2 — 1.5450.