Recommendation: BUY 0…
GBP/USD is being hunted
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.
On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
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.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…