Main movement of currency pair
GBP/USD is in a sideways trend, Tenkan and Kijun lines move in parallel above the price curve, the price moves below the descending cloud, the ascending movement of currency pair is predicted. Traders should take “buy” positions above the level of resistance 1,4912, to fix profit at the following levels of resistance 1,4950, 1,4990.
Alternative movement of currency pair
If pair GBP/USD manages to break through and get fixed below the level of support 1,4850, continuation of the descending movement to the following levels of support 1,4800, 1,4770 will be possible.
Level of support: 1,4912; 1,4950 1,4990.
Level of resistance: 1,4850; 1,4800; 1,4770.
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