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: under Kijun’s resistance
2019-11-11 • Updated
Technical levels: support – 1.2840; resistance – 1.2900.
Trade recommendations:
- Sell — 1.2900; SL — 1.2920; TP1 — 1.2840; TP2 — 1.2810.
Reason: expanding bearish Ichimoku Cloud with horizontal Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are under the resistance of Kijun-sen and may continue falling down.
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