On the daily chart, GBP/USD keeps correcting to the long-term uptrend. Bulls tried to return the pair inside the previous consolidation range of 1.3455-1.3615.
Gold: step forward, two backwards
On the daily chart of gold, the exit of quotes from the triangle allowed the Bulls to return to the upward trading channel. If buyers fail to gain a foothold there and push the quotes towards the support at $1256 will tell us about their weakness and open the way towards $1240-1245. For continuation of the rally, the Bulls need to update the May high.
On the hourly chart of gold, a breakout of support at $1,260 will allow the Bears to return quotes within the borders of the triangle and activate the Shark pattern. Its targets are located near the marks of $1,250 and $ 1,245.
USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”.
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…