Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
GBP/USD: pound is counterattacking
2019-11-11 • Updated
Recommendation: BUY 1.3255 SL 1.32 TP1 1.3355 TP2 1.3455 TP3 1.3615
On the daily chart of GBP/USD, bulls are trying to resume the uptrend with the help of the corrective “Three Indians” pattern. To begin with, they need to settle above the upper border of the downtrend channel and push the pair above resistance at 1.3255.
On H1, GBP/USD is forming “Wolfe waves” and “Crab” patterns. A break of resistance at 1.3250-1.3255 will increase the odds of a “Shark” pattern with a target of 88.6%. It allows distinguishing the 1.3430-1.3440 convergence area.
Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
This article will analyze the possible scenarios for the EU, and what's more important, look at the charts. There is a lot to see, let's go!
Crash of LUNA ecosystem and halving cycles. Glimpse into the future of the crypto market with FBS experts!
Last week blew traders' minds! The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday…
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.