GBP/USD Daily: Testing Ichimoku Cloud with RSI Heading Down
Wait for confirmation below Ichimoku cloud. The sentiment seems to be with the bears and we could see further drops
Technical reasons why: The pair was held by our resistance level of 1.5450 and currently pulling back towards the Ichimoku cloud after breaking below the 61% Fibonacci retracement. The RSI is heading down towards the neutrality area.
Alternative Scenario: Above 1.5160 look for further upside towards 1.5450
Where to set your stops and limits: