Overall trend : Bearish
Ichimoku Analysis (hourly chart)
Tenken-sen- 1.2821
Kijun-Sen- 1.2855
Trend reversal level (intra day)- 1.2800
GBPUSD is trading weak for 3rd consecutive days after hitting high of 1.29365. The pair has lost more than 100 pips from the high. It is currently trading around 1.28312.
On the higher side, minor bullishness can be happen only above 1.2855. Any violation above targets 1.2900/1.29365.
The near term support around 1.2800 and any convincing break below will drag the pair to next level till 1.2755/1.2700.Further bearish continuation only below 1.2660.
It is good to sell on rallies around 1.2855-58 with SL around 1.2905 for the TP of 1.2755/1.2700.
