Danske Bank has entered limit order to sell GBP/USD at 1.6150 with stop 1.6145, target 1.5843
Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.6062
Kijun-Sen level: 1.6073
Ichimoku cloud top: 1.6061
Ichimoku cloud bottom: 1.6028
GBP/USD has broken short-term support 1.6000 and it shows that bounce from 1.5876 has been completed at 1.6183.
Overall trend is slightly weak and it can reach till 1.5843.
Minor resistance is around 1.6030 (cloud bottom) and break below on the downside will target 1.6080/1.6145.
Short term trend reversal only above 1.6185.
Recommendation: Sell GBP/USD around 1.6150, SL 1.6145, Target 1.5843.
The material has been provided by InstaForex Company – www.instaforex.com