The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GBP/USD: price declining under Moving Averages
The price is still declining under the Moving Averages. The main intraday target is the next support at 1.3380 - 1.3344. A pullback from these levels could be a starting point for a bullish correction.
The market has been declining since the last 'Double Top' was formed. It's likely that the pair is going to reach the closest support at 1.3380 - 1.3344. Meanwhile, if a pullback from this area forms little later on, there'll be a moment to have an upward correction in the direction of the Moving Averages.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.