Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.5703
Kijun-Sen level: 1.5648
Ichimoku cloud top: 1.5636
Ichimoku cloud bottom: 1.5689
GBP/USD has recovered after making low of 1.5540 and overall trend is bullish as long as minor support 1.5610 holds.
The pair’s major resistance is around 1.5825 and any break of will target 1.5937 (61.8% retracement of 1.6183 and 1.5540)/1.6000. The support is at 1.5610 and any breaking below will take the pair to 1.5540/1.5426.
Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Buy
Recommendation: Buy GBP/USD around 1.5710, SL 1.5610, Target 1.6000.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.5703
Kijun-Sen level: 1.5648
Ichimoku cloud top: 1.5636
Ichimoku cloud bottom: 1.5689
GBP/USD has recovered after making low of 1.5540 and overall trend is bullish as long as minor support 1.5610 holds.
The pair’s major resistance is around 1.5825 and any break of will target 1.5937 (61.8% retracement of 1.6183 and 1.5540)/1.6000. The support is at 1.5610 and any breaking below will take the pair to 1.5540/1.5426.
Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Buy
Recommendation: Buy GBP/USD around 1.5710, SL 1.5610, Target 1.6000.