Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
GBP/USD: pound is resuming the trend
TP1 1.4350 TP2 1.4450 TP3 1.450
On the daily chart, GBP/USD keeps forming 5-0, “Shark” and AB=CD. A pullback to 50% of the wave CD of 5-0 pattern allowed to form long positions with targets at 113% and 127.2% of the “Shark” and AB=CD. To continue the rally, the pound needs to overcome resistance at 1.4250.
On H1, there are “Wolfe waves” and “Crab” patterns. The interim target is located at 127.2% of the latter at 1.45. The 200% target of AB=CD is also nearby.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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