GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is rebounding from 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 Cloud at 1.2485 is expected, followed by a rise to 1.2675. 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 finding a foothold under 1.2325, which will mean a further decline to 1.2235.
BRENT
Brent is correcting by forming an inverted Head and Shoulders reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 80.35 is expected, followed by a rise to 89.50. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 77.25, which will mean a further decline to 73.55. Meanwhile, the growth could be confirmed by a breakout of the neck line of the Head and Shoulders reversal pattern with the price finding a foothold above 81.05.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has secured under the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 149.45 is expected, followed by a decline to 147.35. An additional signal confirming the decline will be a rebound from the upper boundary of the Double Top pattern. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 150.25, which will mean further growth to 151.15. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the reversal Double Top pattern with the price finding a foothold under 148.55.
