The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GBP/USD: 34 Moving Average acted as resistance
There's a bullish 'Thorn', so we've got a local upward correction, which is about to end. In this case, the nearest support at 1.2665 - 1.2661 is likely going to be tested again. If a pullback from this area forms little later on, there'll be a moment to have a bullish correction towards the next resistance at 1.2722 - 1.2773.
The 34 Moving Average has acted as resistance, so we've got a 'V-Top' pattern. In this case, the market is likely going to reach the closest support at 1.2665 - 1.2661 shortly. A pullback from these levels could be a departure point for an upward correction.
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.