The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GBP/USD: 'Pennant' points to another decline
There's a 'V-Top' pattern, so the price is likely going to test the nearest support at 1.3047 - 1.3032 in the short term. If a pullback from this area happens next, there'll be a green light for another upward price movement. In this case, we should watch the next resistance at 1.3216 - 1.3235 as a bullish target.
It seems like there's a 'Pennant' pattern. If correct, the pair is going to achieve the 55 Moving Average. The subsequent pullback from this line could lead to an upward price movement in the direction of the previously tested resistance at 1.3193 - 1.3216.
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
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.
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?