USD/TRY has moved sharply down this week falling to the support line since the end of November.
GBP/USD: pound is reaching targets
TP1 1.405 TP2 1.415 TP3 1.425
On the daily chart, GBP/USD is trading in an uptrend. The pair reached 161.8% of the AB=CD pattern. This increases the possibility of a pullback. On the other hand, a successful test of resistance at 1.4050 will allow talking about the continuation towards the convergence area of 1.4250-1.2495.
On H1, there’s a “Spike and reversal with acceleration pattern”. A break of support at 1.3935 will create grounds for correction to 1.3815 and 1.3745. At these levels, buyers will become more active.
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...