A successful test of the lower border of the 1.2730-1.2920 consolidation range with the following renewal of May high opens the way up to 127.2% target of AB=CD.
GBP/USD: bears can reach new lows
Technical levels: support – 1.2960, 1.2910; resistance – 1.3040, 1.3100.
- Buy — 1.2980; SL — 1.2960; TP1 — 1.3040; TP2 — 1.3100.
- Buy — 1.2910; SL — 1.2890; TP1 — 1.3000; TP2 — 1.3040.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen; the prices on the strong support, but the Bears can breakdown it to 1.2910.
Recommendation: SELL 1311 SL 1326 TP1 1281 TP2 1272 TP3 1250 SELL 1280 SL 1295 TP1 1250 TP2 1244 On the daily chart of USD/XAU, bulls have to break resistance at 1302…
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are reached the main daily resistance on 111.50 and the market is overbought now.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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