Pullbacks towards 23.6%, 38.2%, and 50% of the wave 4-5 can be used for selling with 161.8% target of AB=CD.
GBP/USD: pound is in consolidation under Cloud
Technical levels: support – 1.2980; resistance – 1.3000, 1.3090.
- Sell — 1.2980; SL — 1.3000; TP1 — 1.2910; TP2 — 1.2870.
- Buy — 1.3010; SL — 1.2090; TP1 — 1.3090; TP2 — 1.3140.
Reason: bearish Ichimoku Cloud with horizontal borders; a dead cross of Tenkan-sen and Kijun-sen, but the narrow channel of the lines; the bears can’t breaking down the support of 1.2980.
On the daily chart, XAU/USD keeps consolidating in the 1188-1213 range.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but the lines are horizontal.
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...