The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
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.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...