USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
GBP/USD: GBP is weak again
TP1 1.26 TP2 1.24 TP3 1.227
On the daily chart of GBP/USD, bears managed to pull the pair to the bottom line of the triangle. A successful break of the support at 1.27 will lead the pair to the 161.8% target of the AB=CD pattern. Vice versa, a rebound will return the pair to the upper boundary of the downward channel.
On H1, the pair keeps reaching targets of the "Crab" pattern. Its 161.8% target is at 1.227. In case of the breakthrough of the support at 1.27, the AB=CD pattern with the 161.8% target will be implemented.
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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