GBP/USD: pound stays on the shelf

GBP/USD: pound stays on the shelf

Recommendation:

BUY 1.3085

SL 1.3030

TP1 1.3200 TP2 1.3300 TP3 1.3550

On the daily chart, bulls are trying to bring GBP/USD outside of the 1.2785-1.3050 consolidation range. It was formed in line with a “Spike and ledge”. If a break of resistance at 1.3050 is a success, the odds of the pair reaching 161.8% target of AB=CD will increase.

GBPUSD D1.png 

On H1, bulls aim to bring GBP/USD outside of the downtrend channel. If they push the prices above September high at 1.3085, it will open the way for an advance to 161.8% of AB=CD and “Crab”.

GBPUSD H1.png

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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