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Ichimoku Cloud Analysis 20.11.2023 (GBPUSD, USDCAD, USDCHF)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is rising within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2445 is expected, followed by a rise to 1.2605. 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 1.2205, which will mean a further decline to 1.2110.

Ichimoku Cloud Analysis 20.11.2023 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is correcting by the Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.3735 is expected, followed by a decline to 1.3535. 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 1.3785, which will mean further growth to 1.3870. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the Triangle pattern with the price finding a foothold under 1.3640.

Ichimoku Cloud Analysis 20.11.2023 USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF 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 Tenkan-Sen line at 0.8895 is expected, followed by a decline to 0.8675. 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 0.8985, which will mean further growth to 0.9075.

Ichimoku Cloud Analysis 20.11.2023 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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