GBPUSD - It can stay bullish after Kumo retest

FX:GBPUSD   British Pound / U.S. Dollar
324 4 8
- The first Kumo attack at the end of February was not succesful, price turned back bearish . However the recent spike above 1,51 (end of April) not just caused a Kumo break, but also meant the break of the bearish trendline .
A Kumo breakout is confirmed when Price clears previous key supp/res, in this case 1,55. As you can see 1,55 resistance blocked further gains few days ago, and past Kumo blocked Chikou Span too.
- After the last few days pull back price reached Kumo support again
- If Price can hold above 1,5050 for few more days, then it an inverse H&S pattern development is possible too. In this case the measure tgt             would be appr. 1,60.
- Heikin Ashi candle today signals a possibly decrease in short term bearish momentum, maybe a bullish reversal is ahead.

With the next confirmed Heikin Ashi buy signal I think we'll see the start of the next bullish wave sending GBPUSD             back above 1,5500. Further bullish confirmation would be: Chikou Span to cross back above past Kumo and Kijun Sen to spike above Kumo.

For now 1,5050 - 1,5200 seems to be the zone to start accumulating some long positions.
This was a great call. Also your call for profit taking above 1,57 on Twitter worked well. Thank you very much!
Might correct a bit lower first, but we'll see.
It's definitely a buy.
Kumowizard IvanLabrie
yes, true it can dip to 1,50+, but the big picture is likely to stay bullish
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out