• Add
    Company

Forex: Ichimoku Clouds. Review of GBP/USD

LiteForex

GBP/USD, H4

On the four-hour chart Tenkan-sen is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Chinkou Span line is above the price chart, current Kumo is ascending. The closest support level is Tenkan-sen line (1.6324). One of the previous maximums of Chinkou Span line is expected to be a resistance level at 1.6414.

GBP/USD, D1

Let’s look at the daily chart. Tenkan-sen line is above Kijun-sen and they are both directed upwards. Chinkou Span line is above the price chart, current Kumo-cloud is ascending. Tenkan-sen line is the closest support level at 1.6217. One of the previous maximums of Chinkou Span line is expected to be a resistance level at 1.6542.

Key levels

Support levels: 1.6324, 1.6217.

Resistance levels: 1.6414, 1.6542.

Trading tips

Both charts indicate the continuation of the upward trend. Targets for the long positions are 1.6414, 1.6542.

Anastasiya Glushkova

Analyst of LiteForex Group of Companies

Source: https://www.liteforex.com/
Disclaimer
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}