USD/JPY: market tests Cloud’s support
Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen.
GBP/USD: bulls are aimed at an uptrend
Recommendations:
BUY 1.4195
SL 1.414
TP1 1.4295 TP2 1.443 TP3 1.4515
On the daily chart of GBP/USD, a correction within the “Shark” pattern’s transformation to 5-0 ended at the level of 38.2% from the CD wave. To resume the uptrend bulls should break the resistance at 1.4122. As a result, odds of 113% and 127.2% targets of “Shark” and “AB=CD” patterns will increase.
On H1, after the pair reached the first target of the “Wolfe waves” pattern a natural pullback happened. To continue the rally, bulls should break the resistance at 1.4195.
Ivan Karamazov
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