EUR/JPY broke key support level 131…
GBP/USD: Moving Averages acted as resistance
The price is consolidating in a range of the developing "Wedge". So, the upper side of this pattern is likely going to be broken soon. The main intraday target is the nearest resistance at 1.3479 - 1.3533, which could be a departure point for another decline.
The Moving Averages have acted as resistance, so the price is declining. Meanwhile, if we see a pullback from the nearest support at 1.3328, bulls are likely going to break the local uptrend. If so, the price could achieve the closest resistance at 1.3404 - 1.3444.
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.