Ichimoku Analysis: GBPUSD 7th Dec 2009

As we identified earlier in the Long Term Analysis for GBPUSD, things seems to be moving quite fast now. Actually, I did not expect such a fast Price Action to move in downward direction but here we are :)

Currently, Weekly, Daily, 4H and 1H are all Bearish. In shorter term, the Pair seems to have found some support between 1.6296 and 1.6357 which happens to be the Over-Sold Support Zone.

However, I’m expecting the upside (if we see one during after the NY open tonight) move to be limited and the price may find another Strong Resistance first at the Tenkan-Sen (1.6425) and later at the Flat turning Kijun-Sen (1.6500).

What is also important to note that on 1H timeframes we’ve a very Strong Bearish Crossover (below Kumo Cloud) with Chikou Span further supporting the Bearish outlook …

Break of 1.6680 will make the Bearish Setup invalid …

GBPUSD_071209

View Comments to “Ichimoku Analysis: GBPUSD 7th Dec 2009”

  1. Prakash says:

    HI,

    Thanks for such a gr8 indicator.

    Can you please share the colored indicator and also the Ichi monitor.

    I am just using the Ichi v5 and found it usefull.

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