The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GBP/USD: market to test 34 Moving Average
There's a local 'V-Top' pattern, so the pair is likely going to achieve the closest support at 1.3888 - 1.3873 in the coming hours. A pullback from this area could be a starting point for a bullish correction towards the nearest resistance at 1.3982 - 1.4009.
It's likely that the pair is going to test the 34 Moving Average in the short term. Meanwhile, if a pullback from this line happens little later on, there'll be an opportunity to have another decline in the direction of the next support at 1.3912 - 1.3888.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
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.
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.