NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
GBP/USD: pound may continue downtrend
Technical levels: support – 1.3215; resistance – 1.3340.
- Sell — 1.3340; SL — 1.3360; TP1 — 1.3215; TP2 — 1.3170.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen; the prices on 3W lows and the Bears may going lower.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...