The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GBP/USD: 'V-Bottom' pushed price higher
There's a 'V-Bottom', so the market is moving up. It's likely that the 34 Moving Average is going to act as resistance. If so, bears will probably try to deliver another decline.
The pair has been rising since the last 'Double Bottom' formed. The main intraday target is the next resistance at 1.3473 - 1.3490, which could be a starting point for a bearish price movement in the direction of the nearest support at 1.3344 - 1.3330.
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.