GBP/USD – 1.3014
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 1.3004
Kijun-Sen level : 1.3004
Ichimoku cloud top : 1.2974
Ichimoku cloud bottom : 1.2969
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Despite staging a strong rebound from 1.2889 to 1.3040 on Friday, the subsequent retreat after faltering below last week’s high of 1.3048 suggest further choppy trading below this level would be seen and pullback to 1.2950-55 cannot be ruled out, however, reckon downside would be limited to 1.2920-25 and said support at 1.2889 should remain intact, bring another rebound later.
On the upside, only a break of said resistance at 1.3048 would confirm recent upmove has resumed an extend further gain to 1.3075-80 and possibly towards 1.3100-10 later. As near term outlook is mixed, would be prudent to stand aside in the meantime.
