GBP/USD – 1.3118
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 1.3103
Kijun-Sen level : 1.3094
Ichimoku cloud top : 1.3118
Ichimoku cloud bottom : 1.3079
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Although cable has rebounded after finding support at 1.3052 yesterday and gain towards 1.3159 (this week’s high) cannot be ruled out, break there is needed to revive bullishness and signal recent upmove has resumed and extend further gain to 1.3185-90 and then 1.3210-20, otherwise, further choppy trading below said this week’s high would take place, bring another retreat later.
On the downside,e below 1.3070 would prolong consolidation, bring weakness to 1.3050-52, break there would suggest a temporary top is possibly formed, bring retracement of recent rise to 1.3030 but support at 1.2999 should remain intact, bring rebound later. As near term outlook is mixed, would be prudent to stand aside in the meantime.
