Pound help above lines
Tatiana Norkina, FBS analyst
Unlike EUR/USD, the GBP/USD currency pair has started the new trading week with a decline. At the Asian session today, the pair has returned to the Tenkan-sen line on the four-hour timeframe and tested the 1.5660 support again. This was followed by a rebound that so far is boosting the bulls' chances for recovery. Indeed, on the one hand, the technical picture looks attractive for purchases at the moment: the golden cross action and the positive Ichimoku cloud will be supporting the bullish sentiment in the market. At the same time, the bulls are now held back by the proximity of a powerful resistance at 1.5700. Therefore, we will not rule out a bearish outcome of the situation today.
Technical levels: support – 1.5660; resistance – 1.5700.
1. Buy — 1.5680; SL — 1.5660; TP1 — 1.5780; TP2 — 1.5800.
2. Sell — 1.5660; SL — 1.5680; TP1 — 1.5570; TP2 — 1.5530.