Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.
GBP/USD: looking for SSB
Technical levels: support – 1.2900; resistance – 1.2970, 1.3020.
- Buy — 1.2920; SL — 1.2900; TP1 — 1.2970; TP2 — 1.3020.
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Kijun-sen; the Bulls are ready to continue local uptrend up to SSB-levels.
Bearish Ichimoku Cloud, but horizontal lines Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with weak channel Tenkan-Kijun; the market is in consolidation on Tenkan-sen and Kijun-sen.
A successful test of the lower border of the 1.2730-1.2920 consolidation range with the following renewal of May high opens the way up to 127.2% target of AB=CD.
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.
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