Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the market made new lows, but there is a strong support on 111.00.
GBP/USD: pound in consolidation
Technical levels: support – 1.2810; resistance – 1.2830, 1.2900.
1. Buy — 1.2840; SL — 1.2820; TP1 — 1.2900; TP2 — 1.2980.
2. Sell — 1.2820; SL — 1.2840; TP1 — 1.2710; TP2 — 1.2630.
Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a weak golden cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the prices are on the support of Tenkan-sen and Kijun-sen.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; the prices are entered into the Cloud.
Recommendation: BUY 111…
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