GBP/USD approaches a strong demand zone

GBP/USD approaches a strong demand zone

GBP/USD is looking for a very interesting Fibonacci area where buyers could appear. The 200 SMA is also giving strength to this outlook and that’s why the Cable could plummet to test the zone between 1.2967 and 1.2920, which corresponds to the Fibonacci retracement levels of 50% and 65% respectively. If a rebound happens over there, the pair might be targeting for the 1.3198 level (-23.6%).

RSI indicator remains in the negative territory, calling for another leg lower in the Cable.




XAU/USD: bulls counterattacked

Recommendation: SELL $1277 SL $1292 TP $1247 On the daily chart, XAU/USD bulls managed to get to an important support at $1267 an ounce and let the pair outside of the short-term descending channel…

GBP/USD: "V-Bottom" pattern

Bears faced support at 1.3087, so there's a "V-Bottom", which pushed the price higher. Nevertheless, if the 34 MA acts as resistance...

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