GBP/USD Daily: Consolidates below Ichimoku Cloud
Suggested positioning: None
Technical reasons why: The pair pulled back below the 38% Fibonacci, remaining below the Ichimoku cloud with the RSI flattening around the neutrality area. The Speculative Sentiment Index is also sending out mixed signals with the trading crowd basically being 50/ 50 on the direction of the pair.
Pending Scenario: Below 1.4835 look for more drops towards 1.45 key support level
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.45 | 1.4835 | 1.50 |
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