Recommendations: SELL 0…
GBP/USD: pound is cramped in range
BUY 1.4070 SL 1.4015 TP1 1.4170 TP2 1.4225 TP2 1.4240
BUY 1.3915 SL 1.3860 TP1 1.4015 TP2 1.4100 TP3 1.4225
On the daily chart, GBP/USD «bulls managed to lead the pair outside of the downtrend channel and trigger the “Bat”. Its 88.6% target is at 1.41. After that, the rally may continue towards 88.6% target of the “Shark”.
On H1, the “Wolfe waves” pattern was activated with a target at 1.4240-1.4245. To continue the rally, bulls need to overcome resistance at 1.4070.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.