GBP/USD: "Pennant" pattern

GBP/USD: "Pennant" pattern


The price is consolidating along the 34 Moving Average. Considering that there's a "Double Top" pattern, the market is likely going to test the closest support at 1.3336. If a pullback from this level happens little later on, we could have an upward price movement towards the next resistance at 1.3430 - 1.3454.


There's a "Pennant" pattern, so the pair is likely going to test the nearest support at 1.3336. However, if we have a pullback from this level, there'll be an opportunity to have a bullish price movement in the direction of the closest resistance at 1.3408 - 1.3430.




EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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