Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Kijun-sen; the market supported by Tenkan-sen and it will continue the uptrend.
GBP/USD: pound is flirting with Indians
SELL 1.34 SL 1.3455 TP 1.3325 TP2 1.322
BUY 1.356 SL 1.3505 TP1 1.356 TP2 1.375
On the daily chart, GBP/USD keeps forming “Three Indians” pattern. A successful test of support at 1.3400 will allow bears to develop correction. Never the less, pound is in the clear bullish trend, so targets of shorts should be moderate.
On H1, a repeated test of support at 1.34 will increase the odds of realization of 88.6% target of the “Shark” pattern. Return of the price to the middle of the 1.3465-1.3610 consolidation range will trigger “Shakeout-Fakeout” pattern and create grounds for resumption of the bullish trend.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the prices are a tested the main daily resistance, but the market needs a correction.
Recommendation: BUY 0…
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