The pair is likely going to test the nearest support at 1.1504, which could be a departure point for a decline towards the next resistance...
Daily Market Analysis
It seems like you just recently looked at the oil market and was sure about the further direction of prices but something has changed again.
On the daily chart of USD/CHF, there was a rebound to the 23.6% level from the CD wave of the junior “Shark” pattern within its transformation to the 5-0 pattern.
On the daily chart of GBP/USD, bulls managed to hold the pair above the support at 1.3065 and above the upper boundary of the downward channel.
On the daily chart of USD/JPY, bears failed to break below the bottom line of the upward channel within the implementation of the “Three Indians” pattern.
Bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with horizontal lines.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with horizontal line.
We've got a 'Pennant', so the pair is likely going to reach the nearest resistance at 1.3216 - 1.3257. A pullback from this area could be...
There's a 'Harami' pattern, which has been confirmed. However, if a pullback from the closest support at 1.1550 happens next...
Although the United Kingdom will release several major economic indicators this week
On the daily chart of XAU/USD, the pair left the downward channel and reached targets of the “Spike and ledge” pattern.
On the daily chart of USD/CAD, the pair is reaching targets of the “Wolfe waves” pattern.