GBP / USD
At the moment, the pair, continuing to use the support of the monthly Fibo Kijun (1.3144), keeps the work in the correction zone, does not leave hopes for its development. Key resistance is still concentrated in the area of 1.3275 - 1.3333 (the final frontiers of the day-long dead cross + week-old Tenkan and Senkou Span A). Reliable consolidation above will open up new prospects and opportunities for players to improve. If the players on the slide can overcome support in the near future (1.3144) and leave the correction zone, then the continuation of the decrease to the lower boundary of the weekly cloud will become actual.
Simultaneously with the transition to the side of players to increase the daily short-term trend (1.3181), long-term support of bullish sentiments in the lower timeframes is formed. Exit to the bullish zone relative to the cloud H4 will allow adding to the upward orientation targets for the breakdown of the cloud H4. The return and consolidation under the most important now support zone 1,3181-44, which combines the levels of the senior and junior halves, will change the current balance of power and return the opportunities for reduction. The first guideline, in this case, will be the update of the minimum extremum of 1.3048.
Indicator parameters:
All time intervals 9 - 26 - 52
The color of indicator lines:
Tenkan (short-term trend) - red,
Kijun (medium-term trend) - green,
Fibo Kijun is a green dotted line,
Chinkou is gray,
Clouds: Senkou Span B (SSB, long-term trend) - blue,
Senkou Span A (SSA) - pink.
The color of additional lines:
Support and resistance MN - blue, W1 - green, D1 - red, H4 - pink, H1 - gray,
Horizontal levels (not Ichimoku) - brown,
Trend lines - purple.
The material has been provided by InstaForex Company - www.instaforex.com