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 have defended the fortress
TP1 0.8600 TP2 0.8450
On the daily chart, EUR/GBP tested the lower border of the 0.8740-0.9015 for the fourth time since September. The inability of bears to continue what they have begun will point at their weakness. On the other hand, if the pair renews January low, the odds of decline to 2% target of AB=CD will increase.
On H1, EUR/GBP managed to lead the pair outside of the descending trade channel. To return the initiative, bears need to make the euro go below support at 0.8740.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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