We has adjusted stop on its GBP/USD short
Positioning Bias:
Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.5638
Kijun-Sen level: 1.5686
Ichimoku cloud top: 1.5851
Ichimoku cloud bottom: 1.5890
GBP/USD short term outlook is weak as long as resistance 1.5900 holds.
The pair is facing minor resistance around 1.5789 and any indicative break above would extend gain to 1.5816/1.5886 (50% retracement of 1.6181 to 1.5591).
The pair's support is around 1.559 and breaking below will take the pair to 100% projection of 1.7190 to 1.6051 from 1.6523 at 1.5384 next.
Recommendation: Sell GBP/USD around 1.5800, SL 1.5900, Target 1.5384.
Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.5638
Kijun-Sen level: 1.5686
Ichimoku cloud top: 1.5851
Ichimoku cloud bottom: 1.5890
GBP/USD short term outlook is weak as long as resistance 1.5900 holds.
The pair is facing minor resistance around 1.5789 and any indicative break above would extend gain to 1.5816/1.5886 (50% retracement of 1.6181 to 1.5591).
The pair's support is around 1.559 and breaking below will take the pair to 100% projection of 1.7190 to 1.6051 from 1.6523 at 1.5384 next.
Recommendation: Sell GBP/USD around 1.5800, SL 1.5900, Target 1.5384.