USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.
EUR/GBP got lost in the corridor
TP1 0.902 TP2 0.912 TP3 0.977
On the daily chart, EUR/GBP keeps consolidating in the 0.8700-0.9020 range in line with the “Spike and ledge” pattern on the basis of 1-2-3. A break of its upper border will increase the odds of AB=CD with a target at 161.8%. On the other hand, a successful test of support at 0.87 will open bears way down to 88.6% of the “bat” pattern.
On H1, EUR/GBP keeps forming “Wolfe waves” pattern. A break of the diagonal resistance 2-4 will allow buying the euro.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...