GBP/USD is welcoming a pinbar

GBP/USD is welcoming a pinbar


BUY 1.4005

SL 1.3950

TP1 1.4105 TP2 1.425 TP3 1.46

On the daily chart, GBP/USD bull managed to defend support at 1.3830-1.3835. As a result, the pair formed a pinbar. A successful test of its high will allow the pound to count on the uptrend’s resumption.  


On H1, GBP/USD keeps forming 1-2-3 and “Spike with reversal and acceleration”. To break the uptrend, bears need to pull the pair out of the trading channel and reach 88.6% target of the “Bat”. The odds of this scenario are not high.





GBP/USD: pound on new lows

Expanding bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen.



EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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