EUR/JPY broke key support level 131…
GBP/CHF broke powerful resistance level 1.2850
- GBP/CHF broke powerful resistance level 1.2850
- Next buy target - 1.3050
GBP/CHF continues to rise after the earlier breakout of the powerful resistance level 1.2850 (which reversed the previous minor correction B at the start of August and which was set as the buy target in our previous forecast for this currency pair). The breakout of the resistance level 1.2850 accelerated the active minor impulse wave 3 from the start of September. GBP/CHF is expected to rise to the next buy target at the next resistance level 1.3050 (top of the previous corrective wave (A)).
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.