Recommendation: SELL 0…
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.
Recommendation: SELL 1…
Expanding bullish Ichimoku Cloud, but falling Senkou Span B(!); a golden cross of Tenkan-sen and Kijun-sen; the market supported by Cloud, but the Bulls can’t continue an existing uptrend.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.