GBP/USD turned down from the levels around 1.3015 this week and fell below the 100- and 200-day MAs in the 1.2960 area.
GBP/USD: Pound dreams of revenge
The GBP/USD daily chart, the transformation of the Shark pattern into 5-0 continues. If bulls fail to return to the borders of the upward trading channels. It will be a signal of their weakness and will allow us to sell the pound from the break of support at 1.284 (23.6% of the CD wave). In contrast, a test of the solid resistance at 1.3024 (88.6% of the CD wave) will create prerequisites for the continuation of the rally.
On the GBP/USD hourly chart, the realization of the expanding wedge pattern continues. As long as the quotes are above the supports at 1.284 and 1.278, the Bulls retain their control over the pair.
SELL 1,284 SL 1,2895 TP1 1,274 TP2 1,264,
BUY 1,3025 SL 1,297 TP 1,3125.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…