Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
GBP/USD got lost in corridors
TP1 1.3515 TP2 1.3545 TP3 1.384
On the daily chart, GBP/USD changed consolidation range from 1.3045-1.3320 to 1.3320-1.3525. If the pound exits the current corridor, the odds of triggering AB=CD pattern with a target at 127.2% will increase. On the other hand, a break of support at 1.3320 and the pair’s exit from the uptrend channel will allow bears to expect the pound to go to 88.6% of the “Bat” pattern.
On H1, a successful test of resistance at 1.3445 and 1.3515 will increase the odds of the uptrend’s resumption.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
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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