On the daily chart, GBP/USD keeps correcting to the long-term uptrend. Bulls tried to return the pair inside the previous consolidation range of 1.3455-1.3615.
GBP/USD: bulls made a stop
BUY 1.357 SL 1.3515
TP 1.367, SELL 1.3465
SL 1.352 TP1 1.34 TP2 1.3325
On the daily chart, GBP/USD formed an inside bar. It points at the indecisiveness of market players. A break of the inside bar’s low together with the formation of “Three Indians” pattern will strengthen the risks of a pullback towards 1.34, 1.33 and 1.3265.
On H1, GBP/USD is consolidating in the 1.3465-1.3570 area in line with “Spike and ledge” pattern. A successful test of its upper border will open the way to the north. On the other hand, a break of support at 1.3465 will increase the risks of correction to 1.3400-1.3420 and 1.3300-1.3325.
USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”.
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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