GBP/USD – 1.3517
Most recent candlesticks pattern  : N/A
Trend                                : Up
Tenkan-Sen level                : 1.3519
Kijun-Sen level                   : 1.3511
Ichimoku cloud top             : 1.3529
Ichimoku cloud bottom       : 1.3502
Original strategy :
Buy at 1.3400, Target: 1.3560, Stop: 1.3365
Position : –
Target :Â –
Stop : –
New strategy :
Stand aside
Position : –
Target :Â –
Stop : –
The British pound has remained confined within near term established range and further consolidation would take place, although risk of another corrective fall towards support at 1.3465 remains, break there is needed to signal a temporary top has been formed at 1.3619, bring retracement of recent upmove to 1.3430 and later towards 1.3400 but reckon 1.3375-80 would hold from here.
On the upside, whilst recovery to 1.3550-55 cannot be ruled out, break of 1.3575-80 is needed to signal the pullback from 1.3619 has ended, bring retest of this level first. break there would extend recent upmove towards 1.3650 later. As near term outlook has turned mixed, would be prudent to stand aside in the meantime.
