NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
GBP/USD: bears showed weakness
TP1 1.4385 TP2 1.461 TP3 1.4715
On the daily chart, GBP/USD pulled back after reaching 200% target of the AB=CD pattern. Advance beyond January high will allow the pound to continue rising towards $1,4610. As long as the pair’s trading above $1,405, bulls remain in control.
On H1, GBP/USD keeps forming “Spike and reversal with acceleration”. The inability of bears to return the pair inside the uptrend points at their weakness.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...