Pound finally reversed
Tatiana Norkina, FBS analyst
The British currency weakened significantly during yesterday's session. Within the course of the day, the GBP/USD pair lost about 180 pips, tumbling into the negative area on the four-hour timeframe. The Tenkan and Kijun lines reacted sensitively to this decrease and formed a dead cross. Senkou Span A and B have also turned downwards but the cloud, oddly enough, remains bullish.
We are obvious to witness consolidation at the current levels in the near future, then the bears might increase pressure and continue sales up to the 1.5230 level.
Technical levels: support – 1.5230, 1.5290; resistance – 1.5360, 1.5390.
1. Sell — 1.5390; SL — 1.5410; TP1 — 1.5290; TP2 — 1.5230.