GBP/USD: picture has worsened
GBP/USD turned down from the levels around 1.3015 this week and fell below the 100- and 200-day MAs in the 1.2960 area.
USD/CAD: bulls remain in control
Recommendation:
BUY 1.292 SL 1.2865 TP1 1.302 TP2 1.3245
BUY 1.2715 SL 1.266 TP1 1.2815 TP2 1.2915
On the daily chart, USD/CAD keeps forming an inverted “Shark” pattern with a target at 88.6%. To continue the rally bulls, need to renew October low. As long as the pair is trading below 1.2710-1.2715, buyers remain in control of the situation. Pullbacks may be used for buying.
On H1, USD/CAD there’s a “Spike and reversal with acceleration” pattern. To break the uptrend, bears need to lead the pair below 1.26.
Ivan Karamazov
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