GBP/USD: bulls are counting on the Indians

GBP/USD: bulls are counting on the Indians


BUY 1.3295

SL 1.3240

TP1 1.3360 TP2 1.3395 TP3 1.3455

On the daily chart, GBP/USD is showing a sustainable uptrend within the correction to the long-term bullish trend. The closeness of 88.6% target of the “Double top” is increasing the odds of a pullback.


On H1 of GBP/USD, a combination of “Three Indians” and 1-2-3 creates grounds for reversal of the downtrend. A break of resistance at 1.3295 will be a signal for bulls to attack and trigger the “Ideal butterfly” pattern with a target at 127.2%.



USD/JPY: bears prepared a trap

On the daily chart of USD/JPY, bears are still hoping on the formation of the “Bat” in case of a break below the lower border of the uptrend channel.

EUR/JPY: inside bar will show the way

On the daily chart, EUR/JPY bulls are counting on the break of the upper border of the descending trend channel and advance to 88.6% target of the “Shark” pattern.


USD/JPY: dollar is overbought

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; Dollar is going to positive area, but the market is overbought now.


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