GBP/USD is moving upwards

Tatiana Norkina, FBS analyst

GBP/USD achieved new peaks for the past three weeks yesterday. Bulls managed to recover the pair’s rate to the 44th figure, and reached strong resistance level. As a result, short-term traders lost their positions, and decrease to 1.4350 area occurred this morning.

A four-hour summary is disposed to the bulls, with the cloud switched to be positive, and the golden cross formed by Tenkan and Kijun lines. The uptrend resuming is, therefore, possible at the end of the correction.

Technical levels: support - 1.4315; resistance - 1.4400.

Trading recommendations: 1. Buy — 1.4320; SL — 1.4300; TP1 — 1.4400; TP2 — 1.4440.

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