GBP/USD is losing ground
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.
XAU/USD: gold is resuming the uptrend
Recommendations:
BUY 1365 SL 1350 TP1 1395 TP2 1410 TP3 1425
BUY 1340 SL 1325 TP1 1380 TP2 1395 TP3 1410
On the daily chart of XAU/USD, the inability of bears to pull the pair below the support at 1302-1308 points at their weakness. Bulls managed to lead gold outside of the consolidation range of 1308-1340. This increases the odds of an advance towards 113% and 127.2% targets of the “Shark” and AB=CD.
On H1, XAU/USD formed a “Crab”. Advance above resistances at 1361 and 1365 will open the way up to 161.8%.
Ivan Karamazov
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Morning brief for June 2
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
Highlights of the ECB meeting and press conference.
The European Central Banks left its key interest rates…
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