EUR/JPY broke key support level 131…
GBP/NZD rising inside minor impulse wave 3
- GBP/NZD rising inside minor impulse wave 3
- Next buy target - 1.9400
GBP/NZD continues to rise inside the minor impulse wave 3, which previously reversed up from the support area lying between the key support level 1.8850 (which also reversed the (b)-wave of the previous ABC correction (ii)), lower daily Bollinger Band and the 50% Fibonacci correction of the previous impulse wave (i) from the middle of October. GBP/NZD is expected to rise further toward the next buy target at the next resistance level 1.9400 (which reversed the previous impulse wave (i)).
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.