The EUR/USD currency pair continues moving inside the ascending channel, the closest target of the growth is the area of 1.3275. The RSI indicator was supported by the trend’s ascending line, we should expect a rebound and the start of the ascending movement. One can consider buying the pair from the current levels. If the price falls down lower than 1.3120, this case scenario will be cancelled.
The correction continues. It looks like the price completed horizontal triangle in wave (B) and then started forming an initial impulse in wave (C) of . Most likely, in the nearest future the correction will be finished and the price will start forming wave (1).
The EUR/GBP currency pair is still consolidating inside an “oversold zone”, the bears haven’t been able to break the -1/8 level yet. The local correction may continue for a while, but after that we can expect the price to start falling down again.
GBPUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Golden Cross” (1), Tenkan-Sen is directed upwards, and Kijun-Sen is horizontal. Ichimoku Cloud is very narrow and continues down (2), Senkou Span A is moving upwards, and Senkou Span B is horizontal. Chinkou Lagging Span is above the chart, the price is inside Kumo Cloud. In the near term, we can expect support of Senkou Span A and Kijun-Sen, and the price to move upwards.
The H4 chart of the EUR/USD currency pair shows a bullish correction on the descending trend. Bearish Shooting Star pattern indicates that the correction is finished. Window, which is the closest to the price, is a resistance level. Three Line Break chart confirms an ascending correction, Heiken Ashi candlesticks indicate a bearish pullback.