Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
GBP/USD: bears-bulls -5:0
On the GBP/USD daily chart, the bulls failed to consolidate above the 1.256 and 1.259 resistance levels. it is a signal of bulls' weakness and of the heightened risks of the transformation of the "Shark" pattern into 5-0. The pullback towards the support at 1.234 with the simultaneous return of quotes to the borders of the previous downward trading channel will be another signal of the restoration of downtrend.
On the GBP/USD hourly chart, the formation of the expanding wedge reversal pattern is almost completed. Rollbacks towards 23.6%, 38.2% and 50% levels from the 4-5 wave can be used for the opening of short positions.
Recommendations: SELL 1,2435 SL 1,249 TP1 1,234 TP2 1,225, SELL 1,247 SL 1,2525 TP 1,234.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines.
On a daily chart of AUD/USD, 88.6% and 113% targets of the “Shark” pattern were reached.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...