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Quid is greatly weaken

Tatiana Norkina, FBS Analyst

GBPUSD didn’t manage to leave the cloud area on the 4-hour timeframe. Heavy breakthrough over the 45th figure done by the bulls overcoming the resistance of Tenkan-Sen, Kijun line and also Ichimoku cloud was ended by a rather impulsive counteraction of the bears. As the daily results showed the pair’s rate still had been within the cloud being stuck in a negative area which made the clients’ plans to fail. What’s more, no proximity to the cloud level is expected to happen soon since Tenkan-Sen and Kijun-Sen shaped a dead cross that is growing every hour. Also, we’re inclined to consider the cloud to change the behavior to bear-like.

Technical levels: support – 1.4220, 1.4150; resistance – 1.4330, 1.4375.

Trade recommendations: 1. Sell — 1.4330; SL — 1.4350; TP1 — 1.4220; TP2 — 1.4150.

GBP
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