The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
GBP/USD: bulls met resistance
BUY 1.3295 SL 1.324 TP1 1.3395 TP2 1.3455 TP3 1.3615
SELL 1.31 SL 1.3 TP2 1.295 TP3 1.29
On the daily chart, the first attempt of GBP/USD to break above the downtrend channel failed. Bears want to trigger AB=CD for the second time with a target at 200% (1.29). To begin with, sellers need to pull the pair below June low.
On H1, a pullback of GBP/USD towards 50% of the wave CD takes place in line with the transformation of the “Shark” pattern into 5-0. The pair formed a “Bat” pattern with a target at 88.6%.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...