Pound to regain ground against the Aussie? Ichimoku Long Trade
This pair got a nice move back up last week before ending up testing tenken sen and the kumo here. We do have an early kumo twist to a bullish cloud and we are currently hold at the top of the kumo which is coinciding with tenken sen support as well which is typically a very strong support level. Both kijun sen and tenken sen have flattened out a bit here indicating we have lost a bit of momentum, probably in anticipation of upcoming news. I am looking for a long entry above our previous candle but as an alternative we can also look for a drop back down to tenken sen and a good support candle to hold there for another entry style. I've drawn some horizontal lines at partial take profit levels and I've drawn out the longer term TP at previous structure highs. If we fail to break higher or hold support, this setup may become invalidated.
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