Ichimoku cloud analysis: GBP/USD, Brent, XAU/USD
|GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD is trading at 1.2498; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2465 and then resume moving upwards to reach 1.2605. Another signal in favor of further uptrend will be a rebound from the support. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2410. In this case, the pair may continue falling towards 1.2325.
BRENT
Brent is trading at 43.16; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 42.50 and then resume moving upwards to reach 44.65. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 41.75. In this case, the pair may continue falling towards 39.45.
XAU/USD, “Gold vs US Dollar”
XAU/USD is trading at 1772.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1765.00 and then resume moving upwards to reach 1815.00. Another signal in favor of further uptrend will be a rebound from the downside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1755.00. In this case, the pair may continue falling towards 1725.00. To confirm further growth, the asset must break the pattern’s upside border and fix above 1785.00.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.