The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GBP/USD: 'Rising Wedge' to end soon
There's a 'Double Top' pattern, which has been confirmed. Even so, the market is likely going to test the closest resistance at 1.3172 in the coming hours, so we could have a new local high. If a pullback from this level forms next, there'll be a moment to have a decline towards the nearest support at 1.3081 - 1.3055.
We've got a developing 'Rising Wedge' pattern, which is about to end. So, we should watch the next resistance at 1.3172 as a possible starting point for a downward correction to 1.3081 - 1.3072.
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.