British pound breakout soon?
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
GBP/USD: bulls can’t maintain uptrend
2019-11-11 • Updated
Technical levels: support – 1.3530; resistance – 1.3590.
Trade recommendations:
- Buy — 1.3530; SL — 1.3510; TP1 — 1.3590; TP2 — 1.3630.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled dead cross of Tenkan-sen and Kijun-sen; the market on the support of Tenkan-sen and Kijun-sen, but it needs correction to Cloud.
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