Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen.
GBP/USD: pound in correction to Cloud
Technical levels: support – 1.2670; resistance – 1.2765.
- Buy — 1.2700; SL — 1.2680; TP1 — 1.2765; TP2 — 1.2800.
Reason: narrowing bearish Ichimoku Cloud; rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the local market in a correction phase and the bulls may go higher.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
On the daily chart of USD/CAD, bulls almost returned the pair to the 1.3275-1.3315 convergence (targets of "Shark" and "Wolfe waves" patterns).
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...