GBP/USD 4-hour: Falling and surpassing the previous bottom.

8:30 am (EST) Update

GBP/USD 4-hour: Falling and surpassing the previous bottom.

Maria’s positioning: Short positions below 1.4637 with targets at 1.4486 and 1.4310 in extension.

Technical reasons why: The pair is falling as breaking below the triangle and even reached the previous bottom at 1.4637 below the Ichimoku’s cloud. The RSI reached the over-sold zone.

Alternative Scenario: Above 1.4637 look for further upside with 1.4716 and 1.4853.

Where I’m setting my stops and limits:

AUD/USD 4-hour: Rebounding.

Maria’s positioning: No positions.

Technical reasons why: The pair is rebounding from the 50% Fibonacci level as failing to break above the Ichimoku’s cloud with the RSI below the neutrality area. A break below the pivot level at the 23% Fibonacci level and the support line would signal further down-moves.

Where I’m setting my stops and limits:

NZD/USD 4-hour: Pulling back from the triangle resistance line.

Maria’s positioning: No positions.

Technical reasons why: The pair is pulling back from the resistance line with the RSI below the neutrality area. A break below the pivot level at the 38% Fibonacci level and the support line would signal a further down-moves.

Where I’m setting my stops and limits:

USD/CHF 4-hour: Confirmed Double-bottom pattern.

Maria’s positioning: Long positions above 0.9805 with targets at 0.9880 and 0.9972 in extension.

Technical reasons why: The pair surpassed our target at 0.9731 and confirmed the double-bottom chart pattern above the Ichimoku’s cloud. The RSI is above the over-bought zone.

Alternative Scenario: Below 0.9805 look for further downside with 0.9731 and 0.9638.

Where I’m setting my stops and limits: