It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
GBP/USD: the pound surfs
TP1 1.332 TP2 1.3365 TP3 1.3455
On the daily chart of GBP/USD, bears try to break June lows. If they succeed, the AB=CD pattern with the 127.2% target will be implemented. At the same time, risks of the “Wolfe waves” pattern’s implementation will increase. It will limit the possibility of the correction to the long-term uptrend.
On H1, after the pair reached targets of the red “Wolfe waves” pattern, bulls are trying to pull the pair to targets of the blue one. If the pair breaks the resistance at 1.322 near 2-4 lines, odds of the upward movement will increase.
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.
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