Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with narrow channel Tenkan-Kijun; the prices are breaking down the Kijun’s support and in correction local trend to the Cloud.
GBP/USD: Indians on the horizon
TP1 1.3265 TP2 1.321
On the daily chart, GBP/USD keeps forming an AB=CD pattern. Its 127.2% target is near the line of “Three Indians”. This increases the risks of correction if bulls show weakness and fail to overcome important resistance at 1.3400.
On H1, a break above the level of 88.6% of the wave CD of the 5-0 pattern allowed bulls to resume the uptrend. The pair is currently forming “Spike and reversal with acceleration” and AB=CD.
Bearish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the prices are entered into the negative area, but there is a strong support on 1.1800 and the market is oversold.
Recommendation: SELL 0…
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
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.