Pullbacks towards 23.6%, 38.2%, and 50% of the wave 4-5 can be used for selling with 161.8% target of AB=CD.
GBP/USD: bulls feels good
Technical levels: support – 1.2900/20; resistance – 1.3000.
- Buy — 1.2920; SL — 1.2900; TP1 — 1.3000; TP2 — 1.3020.
Reason: bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen; the prices breaking out the resistance of Senkou Span A and entered to the positive area; waiting for the new local highs.
On the daily chart, XAU/USD keeps consolidating in the 1188-1213 range.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but the lines are horizontal.
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...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...