GBP/USD: pound broke free

GBP/USD: pound broke free

Recommendation:

BUY 1.3390

SL 1.3335

TP1 1.349 TP2 1.352 TP3 1.3585

On the daily chart, GBP/USD bulls managed to settle above the upper border of the 1.3045-1.3320 consolidation range within “Spike and ledge” pattern. If the pair renews November high, the odds of the rally’s continuation will increase.

GBP1.png 

On H1, after GBP/USD reached targets of “Three Indians”, 1-2-3 and “Shark”, there’s a transformation of the latter to 5-0. The pound’s advance above 78.6% and 88.6% of the wave CD means that bulls are in control of the situation.

GBP2.png

gbp

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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.

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