GBP/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, they are both horizontal. Chinkou Span line is above the price chart; current Kumo-cloud is ascending. Despite small corrections the pair is moving upwards and is probably going to reach the highs at 1.5900. The main support level is Kijun-sen (1.5603) line.

Forex: Ichimoku Clouds. Review of GBP/USD

GBP/USD, D1

On the daily chart we can see almost the same picture: Tenkan-sen line is above Kijun-sen, they are both horizontal. However, on the higher timeframe we can see no correction and the upward movement is stepplier. Chinkou Span line is above the price chart, current cloud is ascending. The closest support level is Tenkan-sen line (1.5451). One of the previous maximums of Chinkou Span line is expected to be a resistance level at 1.6160.

Forex: Ichimoku Clouds. Review of GBP/USD

Key levels

Support levels: 1.5603, 1.5451.

Resistance levels: 1.5900, 1.6160.

Trading tips

On the both charts we can see a development of the Bullish trend. Long trades can be opened at current price with take-profits at 1.5900 and 1.6160.




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