Expanding bullish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen, but horizontal lines.
GBP/USD: pound looks weak
Technical levels: support – 1.3980, 1.3880; resistance – 1.4020, 1.4100.
- Sell — 1.3970; SL — 1.3990; TP1 — 1.3880; TP2 — 1.3810.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen and falling Tenkan-sen; the prices are on the Kijun’s support, but the Bears may breaking down it.
On the daily chart of USD/JPY, there is the rally to 200% target of the AB=CD pattern.
On the daily chart of EUR/JPY, the pair keeps going up to 127.2% and 88.6% targets of “Perfect butterfly” and “Shark” patterns.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…