GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has secured above the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which implies a downtrend. A test of the lower boundary of the Cloud at 1.2515 is expected, followed by a drop to 1.2375. An additional signal confirming the decline could 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 1.2585, which will mean a further increase to 1.2675. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel of a beginning correction with the price securing under 1.2450.
BRENT
Brent is correcting by the Triangle pattern. The instrument is going above the Ichimoku Cloud, which implies an uptrend. A test of the Kijun-Sen line at 88.85 is expected, followed by a rise to 93.35. An additional signal confirming the rise could be a rebound from the lower boundary of the Triangle pattern. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 85.05, which will indicate a further decline to 80.05. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the Triangle pattern with the price securing above 92.05.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is declining after a rebound from the resistance level. The pair is going above the Ichimoku Cloud, which implies an uptrend. A test of the upper boundary of the Cloud at 1.3645 is expected, followed by a rise to 1.3735. An additional signal confirming the growth could 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 1.3605, which will mean a further decline to 1.3505. Meanwhile, the scenario could be confirmed by a breakout of the lower boundary of the bullish channel of a beginning correction with the price securing under 1.2450.
