Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
GBP/USD: good signals for the GBP
Recommendation:
BUY 1.3235
SL 1.318
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.
Ivan Karamazov
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