GBP/USD: levels to trade
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.
Gold can make a pause
Trade idea
SELL 1278; TP 1270; SL 1282
XAU/USD has significantly advanced during the last 5 months. The upside targets haven’t been fully reached yet. However, the pair’s close last week wasn’t very convincing: a candlestick on W1 resembles a shooting star ahead of the key resistance of 1300. Plus gold is at the upper Bollinger band and 50-week MA went below 100-week MA, while the 200-week MA hasn’t started to bend upwards yet. All of this shows that sellers can have a temporary reprieve.
On H4, the price is consolidating in a triangle at the 61.8% Fibo level. A break of its lower border will open the way down to 1270 (100-week MA). On the upside, bulls need XAU/USD to return above 1292.
Elizabeth Belugina
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GBP/USD: levels to trade
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.
AUD/JPY needs to decide
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
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