Technical analytics

Ichimoku cloud indicator analysis of GBP/USD


The demand for the pound remained unabated on Thursday. The bullish views remained popular and buyers continued pressuring the 1.2800 hurdle. They spent the whole night trying to capture the level, but failed, lost strength and turned to the downside in the morning. The sterling moved to 1.2750 and stayed here till the morning.

Technical indicators started gaining negative momentum. The Tenkan-Sen is located at 1.2760, providing additional support, the Kijun-Sen is at 1.2700, while the Chikou Span is somewhere in the 1.2760 area. The Kijun-Sen and the Tenkan-Sen are neutral, while the Chikou Span is moving downwards. The Ichimoku cloud remained bullish. MACD decreased which confirms the strength of sellers. The resistance resides at 1.2800, the support comes in at 1.2700.    

Sellers are heading towards 1.2700. A convincing breakthrough this support might turn the near-term sentiment to bearish. In this potential scenario the pound may visit 1.2600.

New articles