GBP/USD: The pound left the triangle

GBP/USD: The pound left the triangle

Recommendation:

SELL 1.266 SL 1.2715 TP1 1.256 TP2 1.246 TP3 1.22

On the daily chart of GBP/USD, bears managed to move the pair outside the triangle. The pair needs to stick below 1.27 and fall to the August minimum to continue going down. If the August minimum is successfully updated,  the AB=CD pattern with the 161.8% target will be activated. It will comply with the 1.22 level.

gbpusd_d.png

On H1, bears are planning to implement the AB=CD pattern. They keep the situation under control until the pair returns to the resistance at 1.2925. 

gbpusd_60.png

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GBP/JPY has been moving up since the start of January. The pair broke out of a bullish flag and reached new highs in the 145.00 area.

USD/JPY: intraday trading

Volatility has greatly diminished in USD/JPY. The pair is consolidating in a narrow range on H4, and a breakout is coming.

Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

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