On the daily chart, GBP/USD keeps correcting to the long-term uptrend. Bulls tried to return the pair inside the previous consolidation range of 1.3455-1.3615.
USD/CHF: bears prepare to attack
BUY 0.9740 SL 0.9685 TP1 0.9840 TP2 0.9890
On the daily chart, USD/CHF reached the target of “Wolfe waves” pattern. After this, there was a correction to the short-term uptrend. A recoil from the lower border of the bullish trend channel and the pair’s settling above 0.9650 will return the initiative to buyers.
On H1, there are senior and junior “Shark” patterns. The most likely scenarios are: decline to the recent low and continuation of the fall towards 0.9470 or correction to the wave CD. Think about bullish positions if USD/CHF breaks above 0.9740 and 0.9755.
USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”.
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.
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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