Ichimoku cloud analysis: GBP/USD, Brent, USD/JPY

RoboForex Team RoboForex

GBP/USD, “Great Britain Pound vs US Dollar”

GBP/USD has exited the Triangle pattern. The pair is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Tenkan-Sen line at 1.2425 is expected, followed by a decline to 1.2275. An additional signal confirming the decline will be a rebound from the lower boundary of the Triangle pattern. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price securing above 1.2570, indicating a further rise to 1.2660. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bearish channel, with the price gaining a foothold below 1.2345.

Brent

Brent is declining following a rebound from the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Cloud’s lower boundary at 89.65 is expected, followed by a decline to 83.85. 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 Cloud’s upper boundary, with the price securing above 91.55, indicating further growth to 94.05.

USD/JPY, "US Dollar vs Japanese Yen"

USD/JPY is testing the support area. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 154.05 is expected, followed by a rise to 155.95. 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 securing below 152.05, which will indicate a further decline to 151.05. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price gaining a foothold above 154.85.

Author

RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

EUR/USD pops to yearly highs near 1.1770

EUR/USD rapidly reverses course and hits fresh YTD tops near 1.1780 at the end of the week. The pair’s U-turn comes on the back of the intense sell-off in the Greenback amid the generalised risk-on context.

GBP/USD climbs to four-month tops near 1.3600

GBP/USD is building on its solid weekly advance and is pushing toward the 1.3600 hurdle on Friday, or new four-month peaks. Cable’s strong move higher comes as the Greenback intensifies its decline, while auspicious results on the UK calendar also collaborate with the uptrend.

Gold picks up pace, approaches $5,000

Gold prices keep their uptrend well in place and gear up for an imminent hit to the key $5,000 mark per troy ounce on Friday. The yellow metal’s sharp advance gathers pace amid the increasing weakness in the US Dollar and mixed US Treasury yields across the curve.