GBP/USD – 1.3241
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 1.3257
Kijun-Sen level : 1.3195
Ichimoku cloud top : 1.3171
Ichimoku cloud bottom : 1.3149
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Although cable found good support at 1.3110 and staged a strong rebound, break of previous resistance at 1.3287 is needed to add credence to our view that the fall from 1.3338 has ended at 1.3088, then further gain to 1.3300-05 would follow, however ,a broad outlook remains consolidative, reckon upside would be limited to said resistance at 1.3338 and bring retreat later.
In view of this, would not chase this rise here and would be prudent to stand aside for now. Below the Kijun-Sen (now at 1.3195) would suggest an intra-day top is formed, bring weakness to the lower Kumo (now at 1.3149) but price should stay well above yesterday’s low at 1.3110.
