The pair will be affected on the intraday basis by British Inflation Report hearings and US durable goods orders.
GBP/USD: pound is a bit cramped on the ledge
On the GBP/USD daily chart, the realization of "Splash and ledge" pattern on the basis of 1-2-3 continues. If quotes go beyond the consolidation range 1.237-1.258 it will be a signal for the opening positions. Resistances at 1.256-1.2575 corresponds to the upper boundary of the triangle. The breakout will increase the risk of continuation of the rally towards 1.273 and 1.277.
On the GBP/USD hourly chart, an expanding wedge pattern can be formed. For this to happen, bears need to return quotes to 1.236. A successful test of the support at 1.2495 can lead to the development of consolidation followed by the move of quotes to downsides.
SELL 1,2495 SL 1,255 TP 1,236,
BUY 1,2575 SL 1,252 TP 1,273.
EUR/USD met resistance in the 1.1415 area. The pair’s advance in the recent days was quite rapid, so it might be hard for the euro to retain the bullish momentum.
After its extensive decline last week, the USD can make a small comeback.
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.