Ichimoku cloud indicator analysis of GBP/USD for April 6, 2018
April 6, 2018 5:22 am
GBP/USD is in a short-term bearish trend. The price is trending lower towards 1.39-1.38. The price is below the Ichimoku cloud. After backtesting and getting rejected at cloud resistance, the price is making lower lows and lower highs.
Red line – long-term support
Our longer-term view is clearer. Price is in a bullish trend above both the Kumo and the trend line. Price respects support at the tankan-sen (red line indicator). A close below the tankan-sen will open the way for a move at least towards the kijun-sen (yellow line indicator) and the red trend line.
The material has been provided by InstaForex Company – www.instaforex.com
GBP/USD is in a short-term bearish trend. The price is trending lower towards 1.39-1.38. The price is below the Ichimoku cloud. After backtesting and getting rejected at cloud resistance, the price is making lower lows and lower highs.
Red line – long-term support
Our longer-term view is clearer. Price is in a bullish trend above both the Kumo and the trend line. Price respects support at the tankan-sen (red line indicator). A close below the tankan-sen will open the way for a move at least towards the kijun-sen (yellow line indicator) and the red trend line.
The material has been provided by InstaForex Company – www.instaforex.com
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