Recommendation: BUY 0…
GBP/USD: bulls return to the game
TP1 1.2835 TP2 1.2775
On the daily chart, GBP/USD returned inside the long-term bullish channel. This points at buyers’ strength. Bears can regain the initiative only if the pair slide below $1.2962. A break of this support will increase the risks of triggering “Head and shoulders” pattern.
On H1, GBP/USD keeps forming the 5-0 pattern. Conservative approach suggests opening short positions as the pair returns to the previous correction level (38.2%) of the wave CD.
On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
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.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…