GBP/USD: the British pound may recover

GBP/USD: the British pound may recover

Recommendation: BUY 1.2795 SL 1.274 TP1 1.2895 TP2 1.291 TP3 1.3065, SELL 1.265 SL 1.2705 TP1 1.257 TP2 1.247 TP3 1.226

On the daily chart of GBP/USD, the 88.6% target of the “Bat” pattern was reached. This situation increases risks of the rebound. On the other hand, a break of the August minimum near 1.2650 level will activate the AB=CD pattern with the 161.8% target.


On H1 of GBP/USD, a break of the diagonal resistance could signal the correction towards 38.2%, 50%, 61.8% from CD wave of the “Bat” pattern. If it happens, the price for the pair can go out of the downward channel.




XAU/USD: a short-term trade

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.

Latest news

The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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