USD/CAD faces some difficulties
USD/CAD formed a “gravestone doji” candlestick on the W1 ahead of the 50-week MA (1.3280). Learn more!
GBP/USD: pound is afraid of a “Shark”
Recommendation:
SELL 1.3340
SL 1.3395
TP1 1.3255 TP2 1.324 TP3 1.3225
On the daily chart of GBP/USD, the “Double top” is transforming into 5-0. The inability of bulls to get above resistance at 23.6% of the wave CD and return to the 1.3455-1.3615 consolidation range points at their weakness. To develop correction to the long-term uptrend, bears need to renew May low.
On H1 of GBP/USD, a decline below support at 1.3340 will increase the risks of a “Shark” pattern with a target of 88.6% near 1.3225.
Ivan Karamazov
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USDJPY is in a correction after checking the local support level.
The US dollar is currently in a correction, but is likely to continue the trend down.
USD/CAD faces some difficulties
USD/CAD formed a “gravestone doji” candlestick on the W1 ahead of the 50-week MA (1.3280). Learn more!
The outlook for the GBP
The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?
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