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

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

GBPUSD is correcting within a Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2080 is expected, followed by a decline to 1.1965. 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 1.2175, which will mean further growth to 1.2265. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the Triangle pattern with the price securing under 1.2040.

USD/CHF, “US Dollar vs Swiss Franc”

USDCHF 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 bullish channel at 0.9195 is expected, followed by a rise to 0.9285. 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 0.9125, which will mean a further decline to 0.9035.

Brent

Brent is declining within a bearish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 90.95 is expected, followed by a decline to 87.95. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 92.25, which will mean further growth to 94.65. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price securing under 89.65.