On the daily chart, NZD/USD reached 88.6% target of the “Bat”. This increases the possibility of a pullback to 23.6%, 38.2% and 50% of the wave CD.
GBP/USD: bears are pulling down
On the daily chart bears managed to lead the quotes out of the descending channel. This increases the risks of triggering "Bat" pattern with a target at 88.6%. The necessary condition of this scenario is the successful test of support at 1.2370. On the other hand, the pound's return above resistance at $1.2495 will increase the risks of uptrend resumption.
On H1, patterns "Bat' and AB=CD allow determining potential of the downward movement. Their targets are close to 1.2305 and 1.2160. The break of support at 1.2420 will increase the risks of a decline.
Recommendation: SELL 1,242 SL 1,2475 TP 1,2305.
On the daily chart of AUD/USD, there is a consolidation within the bearish trend.
Bearish Ichimoku Cloud with falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the market breaking down the main daily supports and will continue the downtrend.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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