GBP/USD: pair to test the next support

GBP/USD: pair to test the next support


The market is consolidating between the 55 and 89 Moving Averages. It's likely that the pair is going to test the next support at 1.2910 - 1.2854 in the coming hours. If a pullback from this area happens next, bulls will probably try to reach the nearest resistance at 1.2946 - 1.2957.


There's a 'Pennant' pattern, which has been broken. So, we should keep an eye on the nearest support at 1.2889 - 1.2854 as an intraday target. The subsequent pullback from these levels could be a starting point for an upward correction.



GBP/JPY: 'Flag' pattern

There's a confirmed 'Double Top' pattern, which pushed the market lower. Also, it seems like we're going to have...

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GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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