GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD has secured under the lower boundary of the descending channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.2365 is expected, followed by a decline to 1.2255. An additional signal confirming the decline will 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 securing above 1.2415, which will mean further growth to 1.2495.
Brent
Brent is correcting within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 91.34 is expected, followed by a rise to 98.65. An additional signal confirming the rise will be a rebound from the lower boundary of the ascending channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 90.35, which will mean a further decline to 85.05. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price securing above 94.55.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY is testing the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 147.65 is expected, followed by a rise to 148.95. An additional signal confirming the rise will 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 under 147.35, which will mean a further decline to 146.45.
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