Cable’s selloff after yesterday’s rise to 1.6747 has reinforced our early consolidative view and although sterling has recovered after intra-day fall to 1.6500, upside should be limited to the Tenkan-Sen (now at 1.6623) and the Ichimoku cloud area (now at 1.6648-82) should remain intact, bring another decline later. Below indicated…
Tag Archives: ichimoku cloud
Trade Idea: GBP/USD – Sell at 1.6715
Although the British pound rose to an intra-day high of 1.6649, as this move from 1.6460 is still treated as correction of early fall from 1.6879, upside should be limited to the Ichimoku cloud bottom (now at 1.6673) and cable shall falter below 1.6719 (61.8% Fibonacci retracement of 1.6879 to…