EUR/JPY broke key support level 131…
GBP/CHF reached buy target - 1.3050
- GBP/CHF reached buy target - 1.3050
- Next buy target - 1.3300
GBP/CHF continues to rise inside the minor impulse wave 3, which earlier broke sharply through the key resistance level 1.3050 (which stopped the previous intermediate impulse wave (A) and which was set as the buy target in our earlier forecast for this currency pair). The breakout of the resistance level 1.3050 accelerated both of the active minor impulse waves 3 and (C). GBP/CHF is expected to rise further to the next buy target at the next resistance level 1.3300 (forecast price for the completion of the active impulse wave 3).
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.