Technical analytics

Ichimoku cloud indicator analysis of GBP/USD

GBPUSD

The pound failed to build a recovery beyond the level 1.2800. The major faced rejection in this area and had to retreat. The sterling moved to 1.2760 first where the Tenkan-Sen slowed down the decline for a few hours. The pair slipped below this line in the late European session. A fresh selling pressure sent the rate to the 1.2700 level which was reached in the NY session. Sellers failed to continue sell-off after that and retreated in the night.


The Kijun-Sen is neutral, the Chikou Span and the Tenkan-Sen are declining. The Ichimoku cloud turned neutral. MACD continued its decline in the positive area. The resistance resides at 1.2800, the support comes in at 1.2700.   


The GBP/USD pair is poised to extend its weakness amid a modest USD uptick. Sellers will be able to test the level 1.2600 in the coming sessions.


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