Ichimoku Cloud Analysis 25.01.2024 (GBPUSD, USDCAD, USDCHF)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is rebounding from the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2695 is expected, followed by a rise to 1.2840. An additional signal confirming the rise could be a rebound from the lower boundary of the bullish channel. The scenario could be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.2650, which will mean a further decline to 1.2560. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price finding a foothold above 1.2785.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD has left the boundaries of the corrective channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.3475 is expected, followed by a rise to 1.3665. An additional signal confirming the rise could 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 1.3405, which will mean a further decline to 1.3305.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is testing the resistance area. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 0.8625 is expected, followed by a rise to 0.8775. An additional signal confirming the rise could 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 0.8555, which will mean a further decline to 0.8465. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the descending channel with the price finding a foothold above 0.8690.