Bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; but the market is overbought and under the strong resistance of 0.8000.
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.
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.
Recommendations: SELL 1…
USD/JPY has posted slight gains in the first half of past week as political tumult over Trump's obstruction of justice subsided…
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…