For Traders

Analytical Reviews

Ichimoku Indicator

18.05.201808:40 Forex Analysis & Reviews: Daily review of GBP / USD pair on 18.05.18. Ichimoku Indicator

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP / USD pair

The strength of the support levels (the first target benchmark is 1.3516 + monthly Kijun 1.3502) continues to hold the pair in its zone of influence, but do not allow to work out the daily target by 100% (1.3424). The lines of the day cross diverged a considerable distance, while the day Tenkan (1.3533) descended into the zone of inhibition and consolidation, taking a horizontal position. Chikou on the daily chart is approaching the zone of maximum vertical removal. As a result, the expectation of a full-fledged corrective recovery is now more important than a full-scale continuation of the downward trend. Today, we close the week so, perhaps, the activity of players on the rise will be observed only from the next working week. Closing Friday above the supports (1,3502-16-33) may provoke the future retest of the punched levels on the weekly gold cross (1.3640 - 1.3780 - 1.3920). Lower timeframes now also express uncertainty, having the bulk of its elements Ichimoku in the area of 1.3502-33. fastening above the zone and the breakdown of the H4 cloud (1.3562-33) will change the existing balance of forces. It will also allow us to consider new upward guidance points. The closest reference point will be the upward target for the breakdown of the H4 cloud, which will lead the pair to the area of the first resistance of the upper halves at 1.3640 (weekly Fibo Kijun + monthly Tenkan).

Resistance: 1.3533 - 1.3640 - 1.3780.

Supports: 1.3502 - 1.3424.

Indicator parameters:

all time intervals 9 - 26 - 52

Color of indicator lines:

Tenkan (short-term trend) - red,

Kijun (medium-term trend) - green,

Fibo Kijun is a green dotted line,

Chikou is gray,

clouds: Senkou Span B (SSB, long-term trend) - blue,

Senkou Span A (SSA) - pink.

Color of additional lines:

support and resistance MN - blue, W1 - green, D1 - red, H4 - pink, H1 - gray,

horizontal levels (not Ichimoku) - brown,

trend lines - purple.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.