Recommendation: BUY 1…
EUR/USD: on support of Tenkan and Kijun
Technical levels: support – 1.1250; resistance – 1.1360.
- Buy — 1.1250/60; SL — 1.1230; TP1 — 1.1340; TP2 – 1.1360.
Reason: bullish Ichimoku Cloud, but the lines Senkou Span A and B are horizontal; a cancelled golden cross of Tenkan-sen and Kijun-sen, horizontal Tenkan-sen and Kijun-sen; the market is overbought, but prices are supported by Tenkan-sen and Kijun-sen.
On the daily chart, GBP/USD broke down through the lower border of the rising trend channel…
The 55 Moving Average acted as support and we've got a "Three Methods" pattern, so the price is rising...
There's a "Double Top", which has been confirmed. Therefore, bears are likely going to reach the closest support.