GBPUSD Intra-Day Technical Analysis - ranging within key reversal levels waiting for direction

H4 price is on ranging condition located near and above Ichimoku cloud and Senkou Span line which is the virtual border between the primary bullish and the primary bearish on the chart. The key support/resistance levels for the pair are the following:

• 1.5241 key support level located far below Ichimoku cloud in the primary bearish area of the chart, and
• 1.5496 key resistance level located far above Ichimoku cloud in the primary bullish area of the chart.
  

Chinkou Span line is near and above the price for the ranging condition by direction. Absolute strength indicator is estimating the rangng bearish trend for this timeframe.

If H4 price will break 1.5241 support level on close H4 bar so the price will be reversed to the primary bearish market condition.
If H4 price will break 1.5496 resistance level so the bullish trend wll be continuing.
If not so the price will be ranging within the levels.

• Recommendation for long: watch close H4 price to break 1.5496 for possible buy trade
• Recommendation to go short: watch H4 price to break 1.5241 support level for possible sell trade
  
• Trading Summary: ranging

SUMMARY : ranging