GBPUSD: Based on the Ichimocu system the GBPUSD is in a bearish kumo breakout since 20.4.2018.
As we may notice here the price is below the kumo and all the lines Kijun sen ,tekan sen and Chikou span are also below the kumo. Tekan sen and kijun sen seem to be in a bearish formation.
The chikou span is inside the price meaning that the price may start the process for reversing.
If we look at the stochastic we can see that the price is reaching the oversold 20 level giving us another clue of a possible reversal to the upside.
Now to be able to start looking for any potential bullish signals next week we need to see the price crossing the lines tekan sen and kijun sen but also price would need to cross the cloud to the long side to have partial confirm kumo breakout signal.
If the Chikou san line heads out of the kumo we may get a confirmation of a potential breakout signal.
Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.
© 2011-2022 Teletrade-DJ International Consulting Ltd
Teletrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.
The company operates in accordance with the Markets in Financial Instruments Directive (MiFID).
The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. Teletrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.
TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.
Teletrade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.