GBP/USD 4 Hour: Testing key support level at 1.5070
Suggested positioning: Long positions above 1.5070 with target set at 1.5180
Technical reasons why: Strong bullish sentiment found its way during the London session and currently the pair is testing 50% Fibonacci and the Ichimokue cloud with RSI heading up
Alternative Scenario: Below 1.4835 look for further drops towards 1.4500
Where to set your stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.4500 | 1.4835 | 1.5070 |
| 1.4200 | 1.5180 |
