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 retreat, but don't give up
TP1 1.3530 TP2 1.3585
On the daily chart, GBP/USD is retesting the upper border of the previous consolidation range 1.3040-1.3320. In case of successful break of support at 1.3290-1.3320, bears will have an opportunity to trigger “Shakeout-Fakeout” pattern. To resume the uptrend, bulls need to conquer resistance at 1.3520 and 1.3585.
On H1, GBP/USD has almost reached 78.6% target of the “Gartley” pattern. A pullback of support at 1.3295 with the following return inside the uptrend channel will allow bulls to develop their attack.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…