GBP/USD: pound chose road to the north

GBP/USD: pound chose road to the north

On the GBP/USD daily chart, bulls managed not only to push quotes beyond the 1.277-1.286 trading channel but also to retest its upper border. it means that their opponents are still weak. So, there are odds for the continuation of the rally and fulfillment of the 161.8% target in the AB = CD pattern. It is located near the 1.31 mark.


On the GBP/USD hourly chart, the chances for bears to form and implement the "Expanding wedge" pattern have significantly decreased. First, the quotes should return to the middle range of the 1.277-1.2865 trading channel and only then to test its lower border.


Latest news

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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