There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
GBP/USD: 'Bull Trap' led to a new low
The last 'Flag' led to form a new local low. It's likely that the market is going to test the next support at 1.2665 - 1.2614. However, if a pullback from these levels arrives little later on, bulls will probably try to achieve the closest resistance between the levels 1.2722 - 1.2773.
There's a 'Bull Trap', which pushed the price lower. However, we've got a 'V-Bottom', so the pair is likely going to reach the 55 Moving Average. If this line acts as resistance next, there'll be a moment to have a decline in the direction of another support at 1.2665 - 1.2614.
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
Google is going up. When are we to expect full recovery? This short technical analysis will give you some clues where to look at.
Oil prices have been climbing up for a long time. What have stopped them?
There has been some movement in the EUR/USD chart. What's happening?