The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GBP/AUD broke resistance level 1.7730
- GBP/AUD broke resistance level 1.7730
- Next buy target - 1.8090
GBP/AUD recently broke the resistance level 1.7730 (which stopped the previous minor correction A with the daily Shooting Star at the start of June). The breakout of the resistance level 1.7730 accelerated the active minor impulse wave C of the medium-term ABC correction (2) from June. With the sharply rising daily Momentum, GBP/AUD is expected to rise further toward the next buy target at the next resistance level 1.8090 (top of wave 4 from May).
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.