The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
GBP/USD: pound got in the corner
SELL 1.415 SL 1.4205 TP1 1.405 TP2 1.3950
SELL 1.3795 SL 1.3850 TP1 1.3695 TP2 1.3560
On the daily chart, GBP/USD bulls managed to defend the important level of 1.3830 and want to consolidate in the 1.3800-1.4150 area. If the pair renews February low, the risks of it going to 88.6% target of the “Bat” pattern will increase.
On H1, GBP/USD bulls try to form “Wolfe waves”. If they manage to do it, the pound may rise to the upper border of the descending channel at $1.41-1.4150. The pullback to the downside will be a selling signal.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.
If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.
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...