On the daily chart of GBP/USD, bears managed to break the support at 1.27 and move the pair out of the triangle.
GBP/USD: bulls try to restore the trend
On the GBP/USD daily chart, bulls retained the hold of the support at 1.286. The pin bar formation increases the risks of uptrend restoration towards1.307. There is a target 161.8% in the AB = CD. To develop a correction, the bears need to retest the upper boundary of the previous consolidation range (1.277-1.286).
On the GBP/USD hourly chart, after the fulfillment of the Crab pattern, an inverted Shark pattern was formed. Its 61.8% target corresponds to the lower border of the previous consolidation channel 1.2935-1.2975. Once it is fulfilled, the bears regain their strength.
On the daily chart of USD/CHF, there is a transformation of the “Shark” pattern into 5-0.
EUR/USD is still supported by the 200-week MA at 1.1310. The pair came to the support line connecting November lows for the third time
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...