EURGBP, “Euro vs Great Britain Pound”
EURGBP is trading at 0.8992; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9020 and then resume moving downwards to reach 0.8880. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.9095. In this case, the pair may continue growing towards 0.9185.
CADCHF, “Canadian Dollar vs Swiss Franc”
CADCHF is trading at 0.6949; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6920 and then resume moving upwards to reach 0.6995. 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 0.6870. In this case, the pair may continue falling towards 0.6790.
GBPJPY, “Great Britain Pound vs Japanese Yen”
GBPJPY is trading at 140.42; 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 139.65 and then resume moving upwards to reach 142.35. 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 138.65. In this case, the pair may continue falling towards 137.85.
