Pound pretty worn out
Tatiana Norkina, FBS analyst
After Friday's crash under the four-hour Ichimoku cloud, the British currency is trading meekly at the beginning of the new week. The GBP/USD pair is holding under the 55th figure: the bulls are in no hurry to correct the rate. The bearish sentiment is obvious to remain further in the market as the dead cross formed by the Tenkan-sen and Kijun-sen lines has begun strengthening. The Ichimoku cloud is also expanding downwards. The downtrend progression is possible in the near future.
Technical levels: support – 1.5440; resistance – 1.5500.
1. Sell — 1.5500; SL — 1.5520; TP1 — 1.5480; TP2 — 1.5390.