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: pound keep staying under SSA’s resistance
2019-11-11 • Updated
Technical levels: support – 1.3450, 1.3380, 1.3240; resistance – 1.3540.
Trade recommendations:
- Sell — 1.3540; SL — 1.3560; TP1 — 1.3450; TP2 — 1.3380.
Reason: bearish Ichimoku Cloud with falling Senkou Span A and B; a new, but weak dead cross of Tenkan-sen and Kijun-sen with horizontal lines; the Bulls can’t brake through the Cloud’s resistance and may continue existing downtrend.
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