USD/ZAR met resistance
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
Recommendation:
BUY 1.2975
SL 1.2920
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.
Ivan Karamazov
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