GBP/USD: local "Double Top" pattern

GBP/USD: local "Double Top" pattern


There's a consolidation, which is taking place under the nearest resistance at 1.3221. The main intraday target is the closest support at 1.3182 - 1.3150. If we have a pullback from this area, bulls will probably try to reach the 89 Moving Average.


The 89 Moving Average has acted as resistance, so there's a "Double Top" pattern. In this case, the market is likely going to test the 34 MA during the day. Meanwhile, if a pullback from this line happens afterwards, there'll be an option to have an upward price movement in the direction of the next resistance at 1.3221 - 1.3256.



EUR/USD: possible ending diagonal

We're likely going to have wave [iii] inside this pattern. So, we should keep an eye on +2/8 MM Level as the next bullish target...


EUR/USD: "Double Top" pattern

Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

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