GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is correcting after a rebound from the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2225 is expected, followed by a decline to 1.1995. 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 1.2315, which will mean further growth to 1.2205. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price securing under 1.2135.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has secured above the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.3345 is expected, followed by a rise to 1.3685. An additional signal confirming the rise will be a rebound from the upper 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 1.3445, which will mean a further decline to 1.3355.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is pushing off the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the bullish channel at 0.9095 is expected, followed by a rise to 0.9305. 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 0.9015, which will mean a further decline to 0.8920. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price securing above 0.9175.
