On the daily chart, EUR/USD managed to rise above resistance at 1.1750 and lead the pair out of the medium-term consolidation range (1.15-1.1750).
GBP/USD: pound is looking for support of SSB
Technical levels: support – 1.2360; resistance – 1.2450, 1.2500.
1. Buy — 1.2360/70; SL — 1.2340; TP1 — 1.2450; TP2 — 1.2500.
Reason: bullish Ichimoku Cloud; Tenkan-sen and Kijun-sen on the correctional movement; the prices are entered into the Cloud.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrow channel Tenkan-Kijun.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun.
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...