Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
GBP/USD: pound is making wedges
SL 1.3160 TP1 1.2890
On the daily chart, GBP/USD is consolidating between 1.3045 and 1.3320. A break of its upper border will create grounds for the pound’s increase to 1.3415 and 1.3520. On the other hand, successful test of support at 1.3045 will increase the risks of the pair going to 200% target of AB=CD.
On H1, after forming “Wolfe waves” USD/CHF formed a “Widening wedge”. As usual, the pair’s advance above 88.6% of the wave 4-5 is used for buying, while the fall below 23.6% is used for selling.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with expanding channel Tenkan-Kijun.
On the daily chart, bulls are trying to return USD/CAD inside the long-term uptrend channel.
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...