GBP/USD: developing "Flag"

GBP/USD: developing "Flag"

GBP/USD: developing "Flag"

The 55 Moving Average is acting as a support. However, there isn’t any reversal pattern so far. In this case, the price is likely going to reach a support at 1.2402 – 1.2376. If bears be stopped here, there’ll be an opportunity to have an upward price movement in the direction of the 34 Moving Average.


GBP/USD: developing "Flag"

There’s a consolidation, which is taking place under Moving Averages. Also, we’ve got a “Pennant”, which is likely going to be transformed into a “Flag”. The main bearish target is a support at 1.2402 – 1.2397.




EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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