The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
GBP/USD: bulls showed weakness
TP1 1.342 TP2 1.332
On the daily chart, the inability of bulls to get above resistance at 1.3520 and 1.3585 points at their weakness. As long as GBP/USD is trading below 1.3605, risks of consolidation are rising. If this level is breached, the possibility of the uptrend’s resumption will go up.
On H1, one may use rebound strategies. If the pair reaches 88.6% target of the “Bat” with the following recoil of the descending channel’s upper border, this will trigger “Three Indians” pattern and be a signal for selling.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.
If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.
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...