GBP/USD got lost in corridors

GBP/USD got lost in corridors

Recommendation:

BUY 1.3445

SL 1.3390

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.  

GBP1.png 

On H1, a successful test of resistance at 1.3445 and 1.3515 will increase the odds of the uptrend’s resumption.

GBP2.png

gbp

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USD/JPY: intraday trading

Volatility has greatly diminished in USD/JPY. The pair is consolidating in a narrow range on H4, and a breakout is coming.

Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

gbp

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