The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GBP/USD: 'V-Top' pattern led to decline
The pair is declining because of the last 'V-Top' pattern. Meanwhile, it's likely to have a bullish correction in the coming hours. The main intraday target is the closest resistance at 1.3253 - 1.3277, which could be a starting point for another decline.
It seems like there's a 'Thorn' pattern, so we're likely going to have an upward correction during the day. In this case, we should keep on track the nearest resistance at 1.3253 - 1.3277 as a bullish target.
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.