USD/CAD formed a “gravestone doji” candlestick on the W1 ahead of the 50-week MA (1.3280). Learn more!
GBP/USD: good signals for the GBP
TP1 1.3295 TP2 1.3395 TP3 1.352
On the daily chart of GBP/USD, bulls managed to hold the pair above the support at 1.3065 and above the upper boundary of the downward channel. To continue the rally to the 161.8% target of the AB=CD pattern, they need to break the 1.327-1.332 convergence.
On H1, a break of the resistance at 1.3235 will let bulls continue the movement up to targets of «Wolfe waves” and AB=CD patterns.
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.
The US dollar is currently in a correction, but is likely to continue the trend down.
The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?