GBP/USD: the pound strengthens

GBP/USD: the pound strengthens

Recommendation:

BUY 1.274 SL 1.2685 TP1 1.2890 TP2 1.3065 TP3 1.3315

On the daily chart of GBP/USD, bulls try to push the pair back within the triangle's borders and implement the "Wolfe Waves" pattern. The first target of that pattern complies with the 1.3315 mark. To begin with, bulls need to stick above the resistance at 1.27. 

gbpusd_d.png

On H1, if the combination of the "Three Indians" and "Spike and Ledge" patterns based on the 1-2-3 one is implemented, bulls will manage to reverse the downward trend. At first, they need to push the pair above the resistance at 1.274.

gbpusd_60.png

Similar

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

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USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

Latest news

EUR/CHF looks ill

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

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