GBP/USD: 'V-Top' pattern led to decline
There's a 'Double Bottom', which has been confirmed, so the price is likely going to test the nearest resistance...
Silver (XAG/USD) close to make a rebound
Silver has been trading in a strong bearish bias following a test of the resistance level at 17.34. Such move could be taken as a corrective one in favor of the cycle that started in the third week of March. Currently, the price is located around the Fibonacci level of 50% at 16.72, where a lower extension could take the XAG/USD pair to test the 200-hour moving average. Around that area, we’re expecting a rebound that help to boost it towards the -23.6% Fibo level at 17.63.
RSI indicator stays near of the oversold territory, calling for an imminent rebound.
Felipe Erazo
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USD/CAD is recovering
Last week, USD/CAD held above the strong daily support level.
Gold will continue to consolidate
On the daily chart, we expect the price of gold to fluctuate sideways within the Symmetrical Triangle with resistance and support marked by the blue line.
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