Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
EUR/GBP: GBP gains momentum
TP1 0.871 TP2 0.866 TP3 0.86
On the daily chart of EUR/GBP, bulls couldn’t break the resistance at 0.891. Only after the successful retest, they can hope for the implementation of “Bat” and “Wolfe waves” patterns. Until then, bears are stronger. They are going to retest the October low and implement the AB=CD pattern.
On H1, a rebound from the upper boundary of the downward channel will let bears continue the sharp decline to 113% and 127.2% targets of “Shark” and AB=CD patterns.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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