Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
GBP/USD: will pound return to the triangle?
SELL 1.326 SL 1.3315 TP1 1.316 TP2 1.306
SELL 1.319 SL 1.3245 TP1 1.309 TP2 1.299
On the daily chart, bulls attempted to lead GBP/USD outside of the triangle and develop correction to the short-term downtrend. If the pound manages to break above 1.3340, risks of continuation to the upside to 1.3415 and 1.3520 will increase. On the other hand, the return of the pair to the triangle will return the initiative to bears.
On H1, GBP/USD may form “Wolfe waves” pattern. The decline of the pound below 1.3190 will increase the odds of triggering the “Widening wedge” pattern.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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