Ichimoku Cloud Analysis 16.05.2017 (GBP/USD, GOLD)

GBP USD "Great Britain Pound vs US Dollar"

GBP USD, Time Frame Н4. Tenkan-Sen and Kijun-Sen have merged and formed a Kumo Cloud. The pair possibly can form a "gold cross" (1). Ichimoku cloud moves upwards (2), Chinkou Lagging Span holds under the chart while price is under the lines. We can expect a support from Senkou B and the price to move down below the cloud.

GBP USD, Time Frame Н1. Tenkan-Sen and Kijun-Sen have merged above Kumo Cloud (1), the cloud is rising (2), Chinkou Lagging Span is below the chart while price is below the lines. In the near term we can expect a support from Senkou B and the price to move down.

GOLD

XAU USD, Time Frame Н4. Tenkan-Sen and Kijun-Sen have diverged below the cloud and formed a "golden cross" (1), Kumo is still moving downwards (2), Chinkou Lagging Span holds above the chart. One can expect a possible support from Senkou B and a rise of the price within the cloud.