GBP/USD: pound is wandering in the channels

GBP/USD: pound is wandering in the channels


BUY 1,3035 SL 1,298 TP1 1,31 TP2 1,3135,

SELL 1,293 SL 1,2985 TP 1,278. 

On the GBP/USD daily chart, there is a consolidation within the upwards trend. A breakout of the diagonal support followed by activation of the "Shark" pattern can result in the development of the correction towards 1.278. The odds for expansion are not high, the quotes might exhaust their rally at around 1.31 (target 161.8% in AB = CD).

On the GBP/USD hourly chart, there was a false breakout of the lower boundary of the triangle. Breakout of the support at 1.293 may result in a pullback. In contrast, a successful test of resistance at 1.3035 will create the prerequisites for the continuation of the rally.


NZD/USD: bears are hunting a crab

On the daily chart, NZD/USD reached 88.6% target of the “Bat”. This increases the possibility of a pullback to 23.6%, 38.2% and 50% of the wave CD.

GBP/USD: pound going lower

Bearish Ichimoku Cloud with falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the market breaking down the main daily supports and will continue the downtrend.



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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