GBP/USD: 'V-Top' pattern led to decline
There's a 'Double Bottom', which has been confirmed, so the price is likely going to test the nearest resistance...
GBP/USD: Moving Average waiting for bears
The price faced a support at 1.2506, so there’s a consolidation, which is taking place on the four-hours chart. Therefore, the pair is likely going to test the 34 Moving Average, which could be a departure point for an upward correction towards a resistance at 1.2595 – 1.2614.
The 34 Moving Average has acted as a support, so the price is consolidating. In this case, bears are likely going to reach the 55 Moving Average during the day. If a pullback from this line be on the table, there’ll be an opportunity to have a new local high. The main bullish target is a resistance at 1.2573 – 1.2595.
Sergey Logachev
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Last week, USD/CAD held above the strong daily support level.
Gold will continue to consolidate
On the daily chart, we expect the price of gold to fluctuate sideways within the Symmetrical Triangle with resistance and support marked by the blue line.
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