Bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are under strong resistance of 0.7680.
GBP/USD: bears created a trap
SELL 1.332 SL 1.3375 TP 1.321 TP2 1.3105
SELL 1.338 SL 1.3435 TP1 1.328 TP2 1.321
On the daily chart, after GBP/USD formed AB=CD and “Three Indians” patterns, there was a pullback. Bulls are currently trying to return in the game and resume the uptrend. For a start, they have to overcome 1.3290.
On H1, GBP/USD reached 88.6% target of the “Shark” pattern. After this, the “Shark” started transforming into 5-0. Pullbacks towards 23.6%, 38.2% and 50% of the wave CD, as usual, are used for forming short positions.
Expanding bullish Ichimoku Cloud, rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen, with rising Tenkan-sen; the prices are above the Cloud and on the support of Senkou Span A.
Recommendation: BUY 0…
Wave (v) of [i] has been ended on 8/8 MM Level, so it's time for a correction. The nearest target for wave [ii] is 6/8 MM Level...
Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...
Recommendation: BUY 1…