GBP/USD: bulls are preparing another test

GBP/USD: bulls are preparing another test

Recommendation:

BUY 1.2935

SL 1.2880

TP1 1.3005 TP2 1.3035 TP3 1.3080

On the daily chart, GBP/USD keeps forming a “Spike and reversal with acceleration”. Bulls managed to push the prices above the trend line of the initial stage. To continue the advance, the pair needs to rise above 1.2935.

GBPUSD Daily.png 

On H1, buyers have the initiative. To continue the rally, they need to push the pair above 1.2935. If they succeed, the pattern AB=CD will be triggered. Its 200% target is at 1.3080.

GBPUSD H1.png

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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