EUR/JPY broke key support level 131…
GBP/USD: 34 & 55 MA acting as support
The 34 & 55 Moving Averages are acting as support. Nevertheless, the pair is likely going to test the next support at 1.2891 - 1.2853 in the short term. If a pullback from this area happens little later on, we should keep an eye on the nearest resistance at 1.2989 - 1.3021 as an intraday bullish target.
Bears faced with support at 1.2916, so the price is consolidating. Also, there's a "Flag" pattern, so the market is likely going to reach the closest support area at 1.2891 - 1.2872, which could be a departure point for a bullish correction.
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.