GBP/USD: pound is oversold

GBP/USD: pound is oversold

Technical levels: support – 1.2750, 1.2710; resistance – 1.2820.

Trade recommendations:

  1. Sell — 1.2820; SL — 1.2840; TP1 — 1.2750; TP2 — 1.2710.

Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, with falling lines; the local market is oversold, waiting for correction to Tenkan-sen.

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gbp

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Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Kijun-sen; the market supported by Tenkan-sen and it will continue the uptrend.

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