Pound weakening against dollar
Tatiana Norkina, FBS analyst
After much hesitation early this week, the British currency chose to surrender to the sellers. During yesterday's session, the GBP/USD pair attempted to break through the four-hour Tenkan-Sen and Kijun-sen lines resistance at 1.5630, but yet another failure was followed by a tumble deep into the Ichimoku cloud, to the 1.5560 support.
This morning, the bears continued advancing and have already tested the cloud's lower border levels. Trading is obvious to be carried out in the cloud area in the near future, but with a bearish bias.
Technical levels: support – 1.5510; resistance – 1.5560.
1. Sell — 1.5560; SL — 1.5580; TP1 — 1.5480; TP2 — 1.5440.