Today’s Forex Guide

GBP/USD Consolidates Below Ichimoku Cloud


Apr.21.2015

6:00 PM (EST) Update

GBP/USD Daily
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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