GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is correcting inside the Triangle pattern. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.1835 and then resume moving downwards to reach 1.1565. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2035. In this case, the pair may continue growing towards 1.2125. To confirm a further downtrend, the price must break the pattern’s downside and fix below 1.1745.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is rebounding from the support area. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2935 and then resume moving upwards to reach 1.3165. Another signal in favour of a 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 1.2845. In this case, the pair may continue falling towards 1.27555. To confirm a further uptrend, the price must break the bearish channel’s upside and fix above 1.2995.
BRENT
Brent is about to break the resistance level. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the support area at 98.05 and then resume moving upwards to reach 107.55. Another signal in favour of a 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 92.05. In this case, the asset may continue falling towards 86.55.
