Recommendation: BUY 131…
GBP/USD: the pound drew an inside bar
TP1 1.4165 TP2 1.4225
On the daily chart of GBP/USD, there was a natural pullback after the pair reached the 88.6% target of the subsidiary “Shark” pattern. An inside bar was formed. A break of the resistance at 1.4065 will increase risks of the rally’s continuation to the 88.6% target of the parent “Shark” pattern.
On H1, the formation of the reversal “Three Indians” pattern endangered the implementation of “Wolfe Waves” and “Shark” patterns. To continue the uptrend, bulls need to break the resistance at 1.4065.
On the daily chart, bulls failed to push USD/JPY above an important resistance at 112.45 from the first attempt.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a newgolden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...