Ichimoku Cloud Analysis 21.06.2021 (GBPUSD, EURGBP, USDCHF)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3811; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3885 and then resume moving downwards to reach 1.3625. Another signal in favor of a further downtrend will be a rebound from the bearish 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 1.4075. In this case, the pair may continue growing towards 1.4165.

EURGBP, “Euro vs Great Britain Pound”

EURGBP is trading at 0.8594; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.8600 and then resume moving downwards to reach 0.8530. Another signal in favor 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 0.8615. In this case, the pair may continue growing towards 0.8705.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9219; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.9165 and then resume moving upwards to reach 0.9335. Another signal in favor of a further uptrend will be a rebound from the bullish 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 0.8995. In this case, the pair may continue falling towards 0.8905.

Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.