The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GBP/USD: developing 'Pennant' pattern
It seems like there's a developing 'Pennant' pattern, which hasn't been finished yet. Even so, the price is likely going to test the next support at 1.2665 - 1.2661. Meanwhile, if a pullback from the area forms afterwards, there'll be a moment for another decline.
The pair is still consolidating between the levels 1.2665 - 1.2764. Also, it's likely to have a 'Rising Wedge', which means we should keep an eye on the 89 Moving Average as a possible beginning of a bearish price movement.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.