Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.5680
Kijun-Sen level: 1.5704
Ichimoku cloud top: 1.5728
Ichimoku cloud bottom: 1.5697
GBP/USD has formed a double bottom around 1.5585 and has recovered from that level. Overall trend is bullish as long as support 1.5600 holds.
On the downside break below will target 1.5500/1.5400 in the short-term. The pair’s major resistance is around 1.5760 and any indicative break above would extend gain to 1.5825.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Buy
Recommendation: Buy GBP/USD around 1.5690, SL 1.5600, Target 1.5826.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.5680
Kijun-Sen level: 1.5704
Ichimoku cloud top: 1.5728
Ichimoku cloud bottom: 1.5697
GBP/USD has formed a double bottom around 1.5585 and has recovered from that level. Overall trend is bullish as long as support 1.5600 holds.
On the downside break below will target 1.5500/1.5400 in the short-term. The pair’s major resistance is around 1.5760 and any indicative break above would extend gain to 1.5825.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Buy
Recommendation: Buy GBP/USD around 1.5690, SL 1.5600, Target 1.5826.