GBP/USD: bulls going to test closest resistance

GBP/USD: bulls going to test closest resistance


There's a developing "Rising Wedge". The price is testing the lower side of this pattern. So, the pair is likely going to test support at 1.2705 - 1.2678. Meanwhile, if a pullback from this area arrives, we should keep an eye on the next resistance at 1.2768 - 1.2793 as an intraday target.


The price is consolidating right under the broken "Wedge". In this case, bulls are likely going to test the closest resistance at 1.2768. If a pullback from this level happens, there'll be an opportunity to have a decline towards the next support at 1.2690 - 1.2672.



GBP/CAD targeting lower levels

It seems the GBP/CAD looks forward to resume the bearish bias in the short-term, as it has been correcting the cycle started from May 18th and now, we can expect another leg higher to re-test the Fibonacci level of 50% at 1…


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