The wave of ups and downs in the Forex market did not bypass the exotic currencies in 2018. Let’s look at how analysts predict the performance of those ones, which suffered the most during 2018 - the Brazilian real and Turkish lira.
GBP/USD: pound dreams of waves
BUY 1,291 SL 1,2855 TP1 1,291 TP2 1,294,
SELL 1,264 SL 1,2695 TP1 1,251, TP2 1,245.
On the GBP/USD daily chart, there is consolidation in the trading range of 1.264 - 1.28. If quotes move beyond the upper border of the range, the Wolfe Waves pattern will be realized. In contrast, a break of the support at 1.264 should activate the AB = CD pattern with a target 200% (1.245).
On the GBP/USD hourly chart, the Bears' failure to return quotes to the borders of the triangle will indicate their weakness. In contrast, a successful test of the resistance at 1.281 may result in the pullback of quotes towards 1.291 and 1.294.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...