Read more
Previously, the GBP/USD pair remained under bearish pressure to challenge the significant daily bottom established around 1.1750 which was bypassed shortly after.
However, considerable bullish momentum was initiated around 1.0400-1.0600 that could prevent further bearish decline.
As the market was pursuing the current bullish movement, the newly-established ascending bottoms around 1.1150 and 1.1750 remained defended by the bulls. That’s why, further bullish continuation above 1.1765 was expected.
Price action around 1.2340 was being watched for bearish rejection and a short-term SELL Entry. It was running in profits until another bullish bounce has been expressed.
Please take into consideration that bullish breakout above 1.2340 will probably enable further advancement towards 1.2700.
However, the GBPUSD bulls failed to record a new high above 1.2200. Instead, a descending high was established around the same price level.
On the other hand, the current bearish pullback may pursue at least towards the price levels of 1.1750. This should be considered for another long-term BUY Entry with initial target around 1.2350.
Price action around the key-level of (1.0550-1.0600) was quite bullish. That’s why, further bullish continuation towards 1.0800 was demonstrated. Moreover, more bullish advancement towards the nearest supply zone around 1.1150-1.1200
1045
The market has remained under buying pressure until a plateau level occurred around 1.0800-1.0850. This was followed by a significant SELLING price action leading to the recent price decline
1075
The AUD/USD pair is trading at 0.6695 at the time of writing. The price dropped as much as 0.6570 where it has found strong demand. Now, it has jumped above
1120
On Thursday, the EUR/USD pair maintained its upward trend and managed to move above the corrective level of 161.8% (1.0609). The hourly and 4-hour charts show that the pair
1360
NZDUSD is trading around 0.6240 after bouncing from recent low at 0.6131. In the 4 hour chart we observe that the recent bounce was part of a right hand shoulder
1090
