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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.

Pound trading inside cloud

 Tatiana Norkina, FBS analyst

The harsh recovery of the British currency against the American recorded earlier this week has stalled. The GBP/USD currency pair rate stumbled against the four-hour Ichimoku cloud upper border resistance and trades are continued in the cloud area today. The bulls are yet taking advantage of the golden cross formed by the Tenkan and Kijun lines, but the major trend still remains bearish: the Ichimoku cloud is negative.

A break through the cloud is obvious to trigger a change of the major trend. However, if the bulls fail to force through the 56th figure, we will expect the rate to decline into the negative area.

Technical levels: support – 1.5560; resistance – 1.5600.

Trade recommendations:

1. Buy — 1.5570; SL — 1.5550; TP1 — 1.5670; TP2 — 1.5700.

2. Sell — 1.5550; SL — 1.5570; TP1 — 1.5480; TP2 — 1.5390.

GBP
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