Pound keeping within cloud
Tatiana Norkina, FBS analysts
Stumbling on the intermediate resistance in the 1.5460 area, the pound keeps consolidating in a fairly narrow price range. Today's trading started with another attempt to break through the mentioned level but it is obviously beyond the bulls' scope - the prices are again rolling back to the Tenkan-sen line.
At the same time, we should note a positive trend: Tenkan-sen and Kijun-sen are set to rise, and Senkou Span A is narrowing the cloud upwards. Therefore, the bulls might emerge in the market in the short term, restoring the currency pair rate to the Ichimoku cloud upper border.
Technical levels: support – 1.5400; resistance – 1.5460, 1.5490.
Trade recommendations: our of market.