The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
GBP/USD: bears-bulls -5:0
On the GBP/USD daily chart, the bulls failed to consolidate above the 1.256 and 1.259 resistance levels. it is a signal of bulls' weakness and of the heightened risks of the transformation of the "Shark" pattern into 5-0. The pullback towards the support at 1.234 with the simultaneous return of quotes to the borders of the previous downward trading channel will be another signal of the restoration of downtrend.
On the GBP/USD hourly chart, the formation of the expanding wedge reversal pattern is almost completed. Rollbacks towards 23.6%, 38.2% and 50% levels from the 4-5 wave can be used for the opening of short positions.
Recommendations: SELL 1,2435 SL 1,249 TP1 1,234 TP2 1,225, SELL 1,247 SL 1,2525 TP 1,234.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…