Intraday trend: Bullish
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 1.5654
Kijun-Sen level: 1.5662
Ichimoku cloud top: 1.5758
Ichimoku cloud bottom: 1.5837
GBP/USD has made temporary low around 1.5590 and has recovered from that level. In 4 hour chart MACD has formed bullish divergence and jump till 1.5740 cannot be ruled out .
The pair is facing minor support around 1.5630 and any break of will target 1.5585/1.5504 (161.85 projection of 1.55917 to 1.5734).
The GBP/USD major resistance around 1.5740 and any indicative break will take Pair to 1.5808.
Recommendation: Buy GBP/USD around 1.5650, SL 1.558, Targets 1.5740/1.5808.
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 1.5654
Kijun-Sen level: 1.5662
Ichimoku cloud top: 1.5758
Ichimoku cloud bottom: 1.5837
GBP/USD has made temporary low around 1.5590 and has recovered from that level. In 4 hour chart MACD has formed bullish divergence and jump till 1.5740 cannot be ruled out .
The pair is facing minor support around 1.5630 and any break of will target 1.5585/1.5504 (161.85 projection of 1.55917 to 1.5734).
The GBP/USD major resistance around 1.5740 and any indicative break will take Pair to 1.5808.
Recommendation: Buy GBP/USD around 1.5650, SL 1.558, Targets 1.5740/1.5808.