Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.5710
Kijun-Sen level: 1.5759
Ichimoku cloud top: 1.5776
Ichimoku cloud bottom: 1.5726
GBP/USD has broken major support 1.5700 and is trading well below that level. Overall trend is bearish as long as resistance 1.5750 holds.
On the upper side any break above 1.5750 will target 1.5770/1.5825 in the short term. The pair’s minor support is around 1.5700 and break below would extend gain to 1.5625/1.5585.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Sell
Recommendation: Sell GBP/USD around 1.5690, SL 1.5750, Target 1.5630/1.5585.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.5710
Kijun-Sen level: 1.5759
Ichimoku cloud top: 1.5776
Ichimoku cloud bottom: 1.5726
GBP/USD has broken major support 1.5700 and is trading well below that level. Overall trend is bearish as long as resistance 1.5750 holds.
On the upper side any break above 1.5750 will target 1.5770/1.5825 in the short term. The pair’s minor support is around 1.5700 and break below would extend gain to 1.5625/1.5585.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Sell
Recommendation: Sell GBP/USD around 1.5690, SL 1.5750, Target 1.5630/1.5585.