Technical analysis of NZD/CHF
GBP/USD reversed from support zone
- GBP/USD reversed from support zone
- Next buy target - 1.4200
GBP/USD previously reversed up from the support zone lying between the strong support level 1.3800, lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp upward impulse from the middle of December. The upward reversal from this support zone started the active minor impulse wave 3. GBP/USD is expected to rise further toward the next buy target at the next resistance level 1.4200 (resistance trendline of the daily up channel from August).
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.