USD/JPY: the Bears have won
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
EUR/GBP: bulls grip a straw
Recommendation:
BUY 0.889
SL 0.8835
TP1 0.8980 TP2 0.9020 TP3 0.9070
On the daily chart, EUR/GBP is consolidating within a bullish channel. A break of its lower border near 0.8740 will increase the risks of the pair going to 200% target of AB=CD. On the other hand, bears’ inability to let the pair below the diagonal support will allow bulls to resume the uptrend.
On H1, EUR/GBP keeps forming the “Head and shoulders”. To continue the rally, the pair needs to break above resistance at 0.8890.
Ivan Karamazov
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Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
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