It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
GBP/USD: correction expected
Technical levels: support – 1.2970; resistance – 1.3070
- Buy — 1.2970; SL — 1.2950; TP1 — 1.3070; T2 — 1.3100.
Reason: expanding bullish Ichimoku Cloud but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the Bulls can’t maintain existing uptrend – expected correctional movement to Cloud.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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