Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
GBP/USD: the pound strengthens
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.
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.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
While biotech companies are struggling to find the vaccine, investors make bets who’ll win this race.
There are many things happening in the UK. What is the strategic outlook for the GBP?
The Australian dollar set a strong upward trend over a month. Will AUD loose its gains soon?