EUR/JPY broke key support level 131…
GBP/USD reached buy target - 1.3100
- GBP/USD reached buy target - 1.3100
- Next buy target - 1.3270
GBP/USD continues to rise after the earlier breakout of the resistance level 1.3100, which was set as the buy target in our earlier forecast for this currency pair. The breakout of the resistance level 1.3100 accelerated the active minor impulse waves 3 and (iii) – both of which belong to the sharp intermediate impulse wave (3) from the end of June. GBP/USD is expected to rise to the next buy target at the next resistance level 1.3270 (top of the previous impulse wave 1 from August).
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.