The808Trader

GBP/USD Ichimoku Trade Ideas

FX:GBPUSD   British Pound / U.S. Dollar
This pair has tried pushing down on support here and has been failing to break it. We entered back into the cloud last week with a show of USD strength from NFP. Looking at the daily chart , price is holding at tenken sen which is about where the flat part of the cloud is on this 4 hour chart screen shot. There are two possible outcomes for this pair to watch.
Bullish: If we hold support at the flat part of the cloud here and bounce up and out of the cloud, along with chikou span rising above price and our cloud staying bullish , I will enter a buy, targeting 1.3509.

Bearish: If the cloud is broken and we get a future kumo twist to a bearish cloud, I will look for a sell if we get a bearish kumo breakout. If that happens I'll target kijun sen on the daily which is around 1.3297 as my TP

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