GBP/USD is being hunted

GBP/USD is being hunted


SELL 1.3155

SL 1.321

TP1 1.305 TP2 1.3 TP3 1.27

On the daily chart, GBP/USD keeps forming “Three Indians” pattern. Inability of the bulls to hold the pair above 1.3340 and 1.3265 is an indication of their weakness. Bears are ready for a new attack. In case of break below support at 1.3175 the risks of triggering AB=CD pattern with 200% target will increase.


On H1, if GBP/USD goes beyond the downtrend channel for the second time with the following test of support at 1.3155 will create ground for reaching 88.6% and 113% targets of the “Shark” pattern.




USD/JPY: new lows of the Dollar

Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.

AUD/USD: aussie in consolidation

Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.



Morning brief for May 30

 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…

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