GBP/USD – 1.3423
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 1.3460
Kijun-Sen level : 1.3446
Ichimoku cloud top : 1.3391
Ichimoku cloud bottom : 1.3372
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Despite yesterday’s anticipated selloff to 1.3320, the subsequent strong rebound on active cross-buying in sterling suggests low has been formed there and further choppy trading would take place, hence gain to 1.3525-30 cannot be ruled out, however, as outlook remains consolidative, reckon upside would be limited and recent high at 1.3550 should hold, bring retreat later.
As near term outlook is mixed, would be prudent to stand aside in the meantime. Below 1.3370-75 would prolong choppy trading and risk weakness to 1.3350 and price should stay well above said support at 1.3320, bring another rebound.
