Technical Analysis for GBPUSD - bearish breakout is started with 1.4972 resistance level to be broken by D1 price

• Tenkan-sen line is below Kijun-sen line of Ichimoku indicator on W1 timeframe for bearing market condition with 1.4586 support level
• AbsoluteStrength indicator and TrendStrength indicators are showing the ranging market condition to be started in the beginning of this April on weekly timeframe.
• “1.4350 remains of interest but daily and weekly divergence with momentum at price lows cast doubt on whether GBPUSD reaches that level. The sharp turn higher (and pending weekly reversal) is promising for longer term bottoming prospects, especially in light of the mentioned divergence and 2 large range weekly reversals in the last 5 weeks”.
• Chinkou Span line is located to be too far from the price for the primary trend to be changed.
• Bearish breakout is started on open daily bar with Chinkou Span line crossing the price from below to above with 1.4972 resistance level to be broken by D1 price
  

Trend:

• H4 - bullish ranging
  
• D1 - bear market rally (bearish breakout)
  
• W1 - bearish ranging
  
• MN1 - bearish breakdown