NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
GBP/USD: pound is gaining strength
TP1 1.3295 TP2 1.3430 TP3 1.3500
On the daily chart, GBP/USD bulls are trying to lead the pair out of the descending channel, push it above resistance at 1.3215 and move higher towards the target of “Wolfe waves”. Bears, on the contrary, aim to keep GBP/USD inside the channel and renew July low in order to resume the decline.
On H1 of GBP/USD, buyers have a chance to finish the formation of the “Broadening wedge” on the basis of “Three Indians”. To begin with they will need to trigger AB=CD pattern.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...