USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.
GBP/USD is being hunted
TP1 1.305 TP2 1.3 TP3 1.27
On the daily chart, GBP/USD keeps forming “Three Indians” pattern. Inability of the bulls to hold the pair above 1.3340 and 1.3265 is an indication of their weakness. Bears are ready for a new attack. In case of break below support at 1.3175 the risks of triggering AB=CD pattern with 200% target will increase.
On H1, if GBP/USD goes beyond the downtrend channel for the second time with the following test of support at 1.3155 will create ground for reaching 88.6% and 113% targets of the “Shark” pattern.
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...