The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GBP/USD: pair declining since 'Triangle' broken
The pair has been declining since the triangle was broken. The main intraday target is the next support at 1.2957 - 1.2932. This area could be a departure point for a correction towards the closest resistance at 1.3032 - 1.3047.
The market is bearish. It's likely that the price is going to test the nearest support at 1.2957 - 1.2932 shortly. Meanwhile, if we have a pullback from these levels, there'll be a green light for a bullish correction.
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.