GBP / USD
Last week, the supports strength (1.2904 – 1.2820) helped keep the pair from falling. With the beginning of this week, the pound is trying to take a weekly short-term trend, but the situation now is that the continuation of the weekly upward correction is possible only after the players have fully dominated the rise on the daily timeframe. For this, the day cloud breakdown must be completed. Standing back from current resistance and returning under support can provoke bearish activity and become the beginning of a new stage of decline.
At the lower halves at the moment we observe braking and a slight downward correction. This is due to the fact that the target for the breakdown of the H4 cloud has been worked out, and also the resistance of the day cloud has been met. The further struggle will develop for the orientations of the older time intervals. To change the mood and the appearance of initial prospects for players on the downside, now you need to go down into the bear zone against the H1 cloud and eliminate the gold cross N4. As a result, the support in the area of the weekly Tenkan (1.2976) today can be considered the most significant.
Perspective resistance: 1.3060 – 1.3179 – 1.3226.
Significant support: 1.2976 – 1.2901 – 1.2820.
All time intervals 9 – 26 – 52
The color of indicator lines:
Tenkan (short-term trend) – red,
Kijun (medium-term trend) – green,
Fibo Kijun is a green dotted line,
Chinkou is gray,
Clouds: Senkou Span B (SSB, long-term trend) – blue,
Senkou Span A (SSA) – pink.
The color of additional lines:
Support and resistance MN – blue, W1 – green, D1 – red, H4 – pink, H1 – gray,
Horizontal levels (not Ichimoku) – brown,
Trend lines – purple.
The material has been provided by InstaForex Company – www.instaforex.com