Pound trading at lows
Tatiana Norkina, FBS analyst
After Friday's update of the local lows to 1.5130, the pound has leaped to the 1.5230 level this morning. But immediately, the pair was met by a resistance of the horizontal Tenkan-sen line on the four-hour timeframe. Therefore, the bulls had to stop the attack and move to the 52nd figure.
Despite oversoldness, the current situation is still bearish. The powerful dead cross and the expanding downwards cloud leave no chances for buyers to recover the market.
Technical levels: support – 1.5230, 1.5290; resistance – 1.5210, 1.5250.
1. Sell — 1.5250; SL — 1.5270; TP1 — 1.5750; TP2 — 1.5130.