The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GBP/USD: pair consolidating under Moving Averages
The market is still consolidating under Moving Averages. It's likely that the pair is going to test the next support at 1.3457 - 1.3419 soon. Meanwhile, a pullback from this area could be a starting point for a bullish correction.
There's a consolidating, which is taking place between the levels 1.3457 - 1.3612. Also, there's a 'Double Top', which has been formed on the 89 Moving Average. So, the price is likely going to achieve the nearest support at 1.3450 - 1.3419 in the coming hours.
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.