Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, they are both turning horizontal. Chinkou Span line is below the price chart; current Kumo-cloud has reversed from descending to ascending. The pair has broken through the cloud and is consolidating above it. Kijun-sen (1.4860) and Tenkan-sen (1.4926) lines have become support and resistance levels respectively.

Forex: Ichimoku Clouds. Review of GBP/USD


On the daily chart Tenkan-sen line is below Kijun-sen, however, the red line is horizontal, while the blue one is directed downwards. Chinkou Span line is below the price chart, current cloud is descending. After long fall, the is being corrected above Tenkan-sen line (1.4867). Kijun-sen line will be a resistance level (1.4951).

Forex: Ichimoku Clouds. Review of GBP/USD

Key levels

Support levels: 1.4860, 1.4867.

Resistance levels: 1.4926, 1.4951.

Trading tips

On the four-hour chart the pair has broken through a cloud, which is the strong signal to buy. Targets for the long positions are around 1.4951.

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