GBP/USD: pound is cramped in range

GBP/USD: pound is cramped in range


BUY 1.4070 SL 1.4015 TP1 1.4170 TP2 1.4225 TP2 1.4240

BUY 1.3915 SL 1.3860 TP1 1.4015 TP2 1.4100 TP3 1.4225

On the daily chart, GBP/USD «bulls managed to lead the pair outside of the downtrend channel and trigger the “Bat”. Its 88.6% target is at 1.41. After that, the rally may continue towards 88.6% target of the “Shark”.


On H1, the “Wolfe waves” pattern was activated with a target at 1.4240-1.4245. To continue the rally, bulls need to overcome resistance at 1.4070.




XAU/USD: a short-term trade

Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

Latest news

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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