GBP/USD: bears got strength

GBP/USD: bears got strength

Technical levels: support – 1.3080; resistance – 1.3130, 1.3180.

Trade recommendations:

  1. Sell — 1.3130; SL — 1.3150; TP1 — 1.3080; TP2 — 1.3010.

Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; an irregular golden cross of Tenkan-sen and Kijun-sen; the market returned to Tenkan-sen in a local correction movement.

02-gbpusdh4.png

gbp

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Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with expanding channel Tenkan-Kijun.

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GBP/USD: confirmed "Thorn" pattern

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...

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