USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
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.
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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