GBP/USD turned down from the levels around 1.3015 this week and fell below the 100- and 200-day MAs in the 1.2960 area.
AUD/USD: a selling opportunity
TP1 0.7425, TP2 0.7400.
On the daily AUD/USD chart, bears managed to hold resistance at 0.7612 and make the quotes go beyond the uptrend channel. The break of support at 0.7525 will strengthen the risks of decline towards 0.7450 and the upper border of the previous descending channel.
On H1, AUD/USD tested support in the 0.7570-0.7575 area with the following retest. The pair returned to the previous trading range of 0.7520-0.7570. If the pair leaves this range, it will trigger the “Shark” pattern with targets at 0.7425 (78.6%) and 0.74 (88.6%).
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…