Pound holding above lines
Tatiana Norkina, FBS analyst
The bulls managed to restore the GBP/USD currency pair rate into the 1.5120 area yesterday. The growth was of correctional nature, as we have mentioned earlier, since Chinkou Span was indicating the pair's oversoldness. However, the bears have once again started pressuring by the end of the day, returning trades to the 1.5060 mark. It is here that the Tenkan and Kijun lines are, so far holding the bears' further progress back. But the break through this level can be critical – there is a possibility of the rate's decline to this week's earlier lows, to the 50th figure.
Technical levels: support – 1.5000, 1.5060; resistande – 1.5080.
1. Sell — 1.5050; SL — 1.5070; TP1 — 1.5000; TP2 — 1.4970.