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.

Waiting for rally continuation?

 Tatiana Norkina, FBS analyst

After a collapse early last week, the GBP/USD currency pair recovered into the 55th figure area, meeting a powerful resistance there. These levels are likely to be a starting point for the pair's rate further decline since the four-hour Ichimoku indicator is completely on the bears' side. Thus, the Ichimoku cloud keeps expanding downwards, while the Tenkan and Kijun lines might update the dead cross. The pair may return to the ​​1.5440 area in the near future.

Then, everything will depend on the Kijun-sen line. If it keeps the market, consolidation in the 1.5440-1.5600 range is possible. Otherwise, past week's lows will be updated.

Technical levels: support – 1.5440; resistance – 1.5500/20.

Trade recommendations:

1. Sell — 1.5520; SL — 1.5540; TP1 — 1.5440; TP2 — 1.5370.

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