Ichimoku Cloud Analysis 08.12.2023 (GBPUSD, BRENT, NZDUSD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has rebounded from the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper boundary of the Cloud at 1.2615 is expected, followed by a decline to 1.2365. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 1.2675, which will mean a further growth to 1.2765. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price finding a foothold under 1.2505.

BRENT

Brent has found a foothold above the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 77.25 is expected, followed by a decline to 69.85. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 82.05, which will mean further growth to 85.65.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is testing the resistance area. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 0.6130 is expected, followed by a rise to 0.6305. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 0.6075, which will mean a further decline to 0.5985. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price finding a foothold above 0.6205.