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11.05.2018, 08:39

Trading Opportunities for GBPUSD next week

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.

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