GBP/USD – 1.2973
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 1.2964
Kijun-Sen level : 1.2932
Ichimoku cloud top : 1.2908
Ichimoku cloud bottom : 1.2905
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Although sterling has continued edging higher and marginal gain to 1.3000 cannot be ruled out, however, reckon upside would be limited to indicated previous resistance at 1.3015, bring retreat later. Only a break of 1.3015 would signal early upmove has resumed and bring retest of recent high at 1.3048 first.
In view of this, would not chase this move here and would be prudent to stand aside for now. Below the Kijun-Sen (now at 1.2932) would bring test of 1.2900 but only break of support at 1.2871 would signal top is formed, bring weakness towards key support at 1.2830.
