Gold prices rose on Monday as the US Dollar weakened amidst speculation about potential Federal Reserve rate cuts starting in June. This weakened Dollar was partly due to improved risk sentiment pushing US Treasury yields lower. Despite facing challenges from declining yields, gold prices recovered to nearly $2,170 per troy ounce, driven by the Dollar's weakness. Federal Reserve Chair...
GBP/USD: pound chose road to the north
2019-11-11 • Updated
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.
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