GBP/USD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.2174; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2185 and then resume moving downwards to reach 1.2085. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2255. In this case, the pair may continue growing towards 1.2345.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is trading at 1.3990; 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 1.3975 and then resume moving upwards to reach 1.4125. 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 1.3930. In this case, the pair may continue falling towards 1.3845.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY is trading at 107.70; 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 107.45 and then resume moving upwards to reach 108.65. Another signal is 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 106.55. In this case, the pair may continue falling towards 105.65.
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