Recommendations: SELL 0…
GBP/USD is near the selling levels
TP1 1.3875 TP2 1.384 TP3 1.3795
On the daily chart, GBP/USD bulls are ready to make another attempt to test the upper border of the downtrend channel. If the pair managed to break above this line, an inverted “Shark” pattern with target at 88.6% will be triggered. On the other hand, a pullback will return the initiative to bears.
On H1, GBP/USD is fighting for 1.39. The inability of bulls to move above this level will point at their weakness. The risks of decline to 88.6% of the “Bat” will increase.
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.
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.
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.