The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GBP/USD: bullish 'Pennant' pushing pair higher
There's a bullish 'Pennant', which has been broken. So, the market is likely going to test the closest resistance at 1.3114 - 1.3146 in the coming hours. If a pullback from this area happens next, there'll be a moment for a bearish correction towards the nearest support at 1.3032 - 1.3010.
Bulls faced with resistance at 1.3073. In this case, it's likely to have a local downward correction in the direction of 1.3047 - 1.3032. Even so, we're likely going to have another bullish rally to 1.3109 - 1.3149 afterwards.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?