GBP/USD: pound stuck in consolidation

GBP/USD: pound stuck in consolidation

Technical levels: support – 1.2910; resistance – 1.2950, 1.2980.

Trade recommendations:

1. Buy — 1.2960; SL — 1.2940; TP1 — 1.3050.

2. Sell — 1.2930; SL — 1.2950; TP1 — 1.2810; TP2 — 1.2710.

Reason: bullish Ichimoku Cloud, horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen over the Cloud; the prices are under the resistance of Tenkan-sen and Kijun-sen.

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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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Expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the prices are a tested the main daily resistance, but the market needs a correction.

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