EUR/JPY broke key support level 131…
GBP/CHF broke pivotal resistance level 1.3200
- GBP/CHF broke pivotal resistance level 1.3200
- Next buy target - 1.3300
GBP/CHF continues to rise inside the minor impulse wave (iii) – which belongs to the wave 3 from the start of October. The price today broke though the pivotal resistance level 1.3200 (which stopped the earlier minor impulse wave 1). GBP/CHF is expected to rise to the next buy target at the next resistance level 1.3300 (forecast price for the completion of the active minor impulse wave (iii)). Support now stands at the aforementioned price level 1.3200.
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.