GBP/USD: pound testing Cloud’s resistance

GBP/USD: pound testing Cloud’s resistance

Technical levels: support – 1.3285; resistance – 1.3400.

Trade recommendations:

  1. Sell — 1.3400; SL — 1.3420; TP1 — 1.3330; TP2 — 1.3285.

Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under the Cloud and testing its resistance.

02-gbpusdh4.png

gbp

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Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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