GBP/USD: pound is approaching resistance

GBP/USD: pound is approaching resistance

Technical levels: support – 1.2910; resistance – 1.2980.

Trade recommendations:

  1. Sell — 1.2980; SL — 1.3000; TP1 — 1.2910; TP2 — 1.2870.

Reason: narrow bullish Ichimoku Cloud and horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are under strong 3-week’s resistance.

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gbp

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On the daily chart, EUR/GBP is making a long-term consolidation in the 0.87-0.9015 range within a “Spike and ledge” pattern on the basis of 1-2-3. Within it, the pair formed a medium-term consolidation range of 0.87-0.89.

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On the daily chart, EUR/USD keeps consolidating in the 1.1515-1.1815 range. Bulls keep hoping to form a “Dragon” and a “Crab”.

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EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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