Pound going lower and lower
Tatiana Norkina, FBS analyst
Trading on the GBP/USD currency pair yesterday was again marked by the bearish sentiment intensification. Despite hefty oversoldness, the British currency kept sliding, having updated the two-month low. A new extremum since July was recorded at the 1.5288 level, but let us not rule out the bears testing the daily levels of 1.5240 and 1.5190 in the near future. At least, there are all possible conditions for that: the dead cross, the bearish cloud, the descending lines of the four-hour Ichimoku indicator reflect the corresponding attitude of the market participants. At the same time, we do not exclude a preliminary short-term currency pair rate recovery to the Tenkan-sen line.
Technical levels: support – 1.5240, 1.5190; resistance – 1.5340.
1. Sell — 1.5340; SL — 1.5360; TP1 — 1.5290; TP2 — 1.5240.