Pound attempting to grow
Tatiana Norkina, FBS analyst
The GBP/USD currency pair found support at 1.5560 yesterday. It is here that a powerful level has been formed by the Ichimoku cloud upper border on the four-hour timeframe. Supported by the positive cloud, the bulls took it as a signal for purchases, making the pair finally break through the notorious 1.5650 resistance. The daily high was set at 1.5716 but then the market returned to the 1.5650 mark to test the Kijun-sen line support.
Obviously, the bullish sentiment might increase in the near future. The goal for purchases may be the 1.5780/90 mark.
Technical levels: support – 1.5650; resistance – 1.5730, 1.5780.
1. Buy — 1.5670; SL — 1.5650; TP1 — 1.5730; TP2 — 1.5780.