Trading news

Forex: Ichimoku Clouds. Review of GBP/USD

GBP/USD, H4

On the four-hour chart Tenkan-sen is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Chinkou Span line is above the price chart, current Kumo is ascending. The closest support level is Tenkan-sen line (1.6324). One of the previous maximums of Chinkou Span line is expected to be a resistance level at 1.6414.

GBP/USD, D1

Let’s look at the daily chart. Tenkan-sen line is above Kijun-sen and they are both directed upwards. Chinkou Span line is above the price chart, current Kumo-cloud is ascending. Tenkan-sen line is the closest support level at 1.6217. One of the previous maximums of Chinkou Span line is expected to be a resistance level at 1.6542.

Key levels

Support levels:  1.6324, 1.6217.

Resistance levels:  1.6414, 1.6542.

Trading tips

Both charts indicate the continuation of the upward trend. Targets for the long positions are 1.6414, 1.6542.

 

Anastasiya Glushkova

Analyst of LiteForex Group of Companies

Friday, 29 Nov, 2013 / 9:20

Source : https://www.liteforex.com/

Trading news

 

Stocks falter again, bruised dollar seeks to end losing streak

  Market mood sours again as China crackdowns, mixed earnings and [...]

Posted on Friday, 30 Jul, 2021 / 9:44 under

PFIZER CRUSHES Q2, PROJECTS HIGHER COVID-19 SALES

The resurgence of covid-19 cases, with the rapid spread of the Delta variant [...]

Posted on Thursday, 29 Jul, 2021 / 10:57 under

Eurozone Q2 GDP: The Recession Is Over

Tomorrow we await the official confirmation that Europe has exited the [...]

Posted on Thursday, 29 Jul, 2021 / 10:40 under