EUR/JPY broke key support level 131…
GBP/USD: developing downward correction
We've got a confirmed "Double Top", so the market is likely going to test the nearest support at 1.3363 - 1.3336. Meanwhile, if a pullback from this area happens, we could have another upward price movement towards the next resistance at 1.3454 - 1.3480.
There's a developing downward correction. The main intraday target is the closest support at 1.3336 - 1.3309. If a pullback from this area happens, bulls will probably try to test another resistance between the levels 1.3408 - 1.3430.
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.