GBP/USD: bulls going to test 89 MA

GBP/USD: bulls going to test 89 MA


There's a "Double Bottom", which pushed the price towards resistance at 1.2705. In this case, the market is likely going to reach the nearest resistance at 1.2705 - 1.2757. Meanwhile, if a pullback from this area happens, we should keep an eye on the next support at 1.2581 - 1.2514 as a bearish intraday target.


The 55 Moving Average has acted as resistance, so we've got a "V-Top" pattern on this line. However, bulls are likely going to test the 89 MA in the coming hours. If we see a pullback from this line, bears will probably try to deliver a new local low.




EUR/USD: "Triple Top" pattern

The market is likely going to decline towards the nearest support at 1.1879 - 1.1859. If a pullback from these levels happens little later on...

USD/JPY: bearish "High Wave"

There's a "Shooting Star", which has been formed at the last local high. However, this pattern doesn't have confirmation so far...

GBP/USD: pound returned to negative area

Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, with horizontal lines; the prices are returned to negative area and now in consolidation below the Cloud.

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