Ichimoku Cloud Analysis 31.05.2023 (GBPUSD, AUDUSD, BRENT)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is pushing off the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper border of the Cloud at 1.2425 is expected, followed by a decline to 1.2215. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.2435, which will mean further growth to 1.2525. Meanwhile, the decline could be confirmed by a breakout of the lower border of the bullish channel, securing under 1.2335.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is testing the support area. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 0.6490 is expected, followed by a decline to 0.6365. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 0.6605, which will mean further growth to 0.6705.

BRENT

Brent has secured under the lower border of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 74.80 is expected, followed by a decline to 69.45. An additional signal confirming the decline will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 78.05, which will mean further growth to 81.45.