GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
SELL 1180 SL 1195 TP1 1160 TP2 1151 TP3 1130
BUY 1215 SL 1200 TP1 1245 TP2 1265 TP3 1285
On the daily chart of XAU/USD, 1,180-1,215 consolidation keeps going. A break of its upper boundary will implement the “Crab” pattern with the 161.8% target. On the contrary, the hit of the support at 1,180 will let bears move to the 161.8% target of the AB=CD pattern.
On H1, the “Broadening wedge” pattern is forming. An unsuccessful break of the resistance at 78.6% of the 4-5 wave let bears counterattack. To continue the downward movement, bears need to test the support at 1,180.
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.