USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.
GBP/USD: pound is getting ready for an attack
TP1 1.3035 TP2 1.3070 TP3 1.3105
On the daily chart, GBP/USD keeps forming a “Shark” pattern. The pair got close to its 113% target near 1.2855. The pair may also form a “Three Indians” pattern. This makes it more likely that the correction to the long-term uptrend will end.
On H1, GBP/USD reached 113% target of the “Shark”. If it breaks above resistance at 1.2975, the odds of a pullback to 38.2% and 50% in line with the transformation of a “Shark” into 5-0 will increase.
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...