HomeContributorsTechnical AnalysisGBPUSD – Bears Are Looking For Test Of Thin Daily Ichimoku Cloud

GBPUSD – Bears Are Looking For Test Of Thin Daily Ichimoku Cloud

Cable remains under pressure in early Monday’s trading and attempts to extend strong pullback from 1.2704 peak, after the price broke below short-term bull-channel.

Near-term bears eyes strong support zone between 1.2430 and 1.2390 (thin daily cloud / Fibo 38.2% of 1.1986/1.2704 / 100SMA), break of which is needed to confirm reversal and open way for further easing.

Sustained break lower is expected to open way towards 1.2345 (daily Kijun-sen) and 1.2260 (Fibo 61.8%) in extension

Daily Tenkan-sen (currently at 1.2557) offers solid resistance that should cap corrective upticks.

Res: 1.2496, 1.2536, 1.2557, 1.2600
Sup: 1.2430, 1.2411, 1.2390, 1.2345

Windsor Brokers Ltd
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