EUR/USD: bearish 'Engulfing' pattern
The market is likely going to test the nearest support at 1.1730. If a pullback from this level forms next, bulls will probably try to...
GBP/USD on its way to resume the bullish bias
GBP/USD is trading inside a bearish correction across the board and it managed to do a crossover between the 50 and the 200-hour moving average, which is helping to boost the bears to the downside. Currently, the pair is testing the 65% Fibonacci level at 1.4012, where a demand zone is established. If it does a rebound above such area, we can expect further gains toward the resistance level of 1.4243. However, if the 65% Fibo level gives up, then the next target would be the lows from March 16th.
RSI indicator stays in the negative territory, favoring to the bears.
Felipe Erazo
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