GBPUSD bears seems to be in control
Ichimoku Analysis
1. Price vs. Cloud (Kumo):
The price has sharply broken below the Kumo (cloud), confirming a bearish trend.
The Senkou Span A (leading green line) is below Senkou Span B (leading red line), showing sustained bearish momentum.
2. Tenkan-Sen (Red Line) vs. Kijun-Sen (Blue Line):
A bearish cross (Tenkan-Sen below Kijun-Sen) occurred earlier, supporting the downward move.
3. Chikou Span (Lagging Green Line):
The Chikou Span is below price and cloud, affirming no immediate support in historical price levels.
4. Key Support & Resistance:
Resistance: 1.2763 - 1.2786 (cloud top and recent highs).
Support: 1.2600 (current psychological level), 1.2550 (minor support), and 1.2500 (major psychological support).
Ichimoku Wave Theory
The current price move forms a bearish N-Wave:
1. Impulse Up to 1.2786.
2. Correction Down to 1.2650.
3. Continuation Down to the current level (1.2600), with potential for a further leg down.
A measured move projects a continuation of approximately 100-120 pips below 1.2600, aligning with 1.2500.
Ichimoku Time Theory
Time cycles (9, 17, and 26 periods) help predict the timing of price targets:
1. Breakout Timing:
The breakout below the cloud occurred after 17 periods of consolidation.
2. Time to Targets:
TP1 (1.2550): Likely within 9 periods (36 hours) from the breakout point.
TP2 (1.2500): Likely within 17 periods (68 hours) from the breakout.
Each period represents 4 hours (4H chart).
Trade Setup
1. Entry:
Sell on a confirmed break below 1.2600.
Alternatively, enter on a retest of 1.2650 (Kijun-Sen level).
2. Stop-Loss:
Above the Kumo at 1.2763 to protect against reversal.
3. Take-Profit Targets:
TP1: 1.2550 (minor support) – expected within 36 hours (1.5 days).
TP2: 1.2500 (psychological level and measured move target) – expected within 68 hours (3 days).
4. Risk-to-Reward Ratio:
Entry: 1.2600
SL: 1.2763 (163 pips)
TP1: 1.2550 (50 pips)
TP2: 1.2500 (100 pips)
Conclusion
The bearish structure, confirmed by Ichimoku Cloud, Wave Theory, and Time Theory, favors further downside.
Expect TP1 (1.2550) in approximately 1.5 days and TP2 (1.2500) in 3 days.
Monitor for a retest of 1.2650 or a clear break of 1.2600 before entering short positions.
This setup aligns with Ichimoku's principles of combining price, time, and wave analysis for a comprehensive trade strategy.
1. Price vs. Cloud (Kumo):
The price has sharply broken below the Kumo (cloud), confirming a bearish trend.
The Senkou Span A (leading green line) is below Senkou Span B (leading red line), showing sustained bearish momentum.
2. Tenkan-Sen (Red Line) vs. Kijun-Sen (Blue Line):
A bearish cross (Tenkan-Sen below Kijun-Sen) occurred earlier, supporting the downward move.
3. Chikou Span (Lagging Green Line):
The Chikou Span is below price and cloud, affirming no immediate support in historical price levels.
4. Key Support & Resistance:
Resistance: 1.2763 - 1.2786 (cloud top and recent highs).
Support: 1.2600 (current psychological level), 1.2550 (minor support), and 1.2500 (major psychological support).
Ichimoku Wave Theory
The current price move forms a bearish N-Wave:
1. Impulse Up to 1.2786.
2. Correction Down to 1.2650.
3. Continuation Down to the current level (1.2600), with potential for a further leg down.
A measured move projects a continuation of approximately 100-120 pips below 1.2600, aligning with 1.2500.
Ichimoku Time Theory
Time cycles (9, 17, and 26 periods) help predict the timing of price targets:
1. Breakout Timing:
The breakout below the cloud occurred after 17 periods of consolidation.
2. Time to Targets:
TP1 (1.2550): Likely within 9 periods (36 hours) from the breakout point.
TP2 (1.2500): Likely within 17 periods (68 hours) from the breakout.
Each period represents 4 hours (4H chart).
Trade Setup
1. Entry:
Sell on a confirmed break below 1.2600.
Alternatively, enter on a retest of 1.2650 (Kijun-Sen level).
2. Stop-Loss:
Above the Kumo at 1.2763 to protect against reversal.
3. Take-Profit Targets:
TP1: 1.2550 (minor support) – expected within 36 hours (1.5 days).
TP2: 1.2500 (psychological level and measured move target) – expected within 68 hours (3 days).
4. Risk-to-Reward Ratio:
Entry: 1.2600
SL: 1.2763 (163 pips)
TP1: 1.2550 (50 pips)
TP2: 1.2500 (100 pips)
Conclusion
The bearish structure, confirmed by Ichimoku Cloud, Wave Theory, and Time Theory, favors further downside.
Expect TP1 (1.2550) in approximately 1.5 days and TP2 (1.2500) in 3 days.
Monitor for a retest of 1.2650 or a clear break of 1.2600 before entering short positions.
This setup aligns with Ichimoku's principles of combining price, time, and wave analysis for a comprehensive trade strategy.
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