Long-term and short-term analysis of the Australian dollar's performance against the US dollar.
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.
A local flirting with the resistance or a serious intention to break through? We will examine the price action of GBP against CHF on high timeframes to answer this question.
The bearish bias appears to start losing power. The market reversal upwards is still to be confirmed.
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An examination of how the US-China trade tensions have been influencing the USD/CNH and how to trade on it.
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