GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is rising after a rebound from the support. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.2765 is expected, followed by a rise to 1.2935. An additional signal confirming the rise might be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.2645, which will mean a further decline to 1.2555. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price finding a foothold above 1.2810.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is correcting within a bearish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 147.85 is expected, followed by a decline to 144.75. An additional signal confirming the decline could be a rebound from the upper boundary of the descending channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 149.05, which will mean further growth to 150.05. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bearish channel with the price finding a foothold under 146.75.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is rebounding from the resistance level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.8805 is expected, followed by a decline to 0.8685. An additional signal confirming the decline could be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 0.8835, which will mean further growth to 0.8925.
Source: Roboforex
