GBP/USD – 1.2995
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 1.2993
Kijun-Sen level : 1.2999
Ichimoku cloud top : 1.3006
Ichimoku cloud bottom : 1.2992
Original strategy :
Bought at 1.3000, stopped at 1.2965
Position : – Long at 1.3000
Target : –
Stop : – 1.2965
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Although cable fell marginally to 1.2952, lack of follow through selling and current rebound suggest further consolidation would take place and another bounce to 1.3025-30 cannot be ruled out, however, reckon upside would be limited to resistance at 1.3059 and price should falter below 1.3085-90 and bring another decline later.
On the downside, below support at 1.2952-53 would signal recent fall from 1.3269 top has resumed and extend weakness to previous chart support at 1.2933 but reckon 1.2900 would hold from here, risk from there has increased for a rebound to take place later.
