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Cable On The Run: Watch These GBP/USD, GBP/CAD And GBP/JPY Setups

Published 09/11/2018, 04:47 AM
GBP/USD
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GBP/JPY
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GBP/CAD
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GBP is on the run thanks to the better GDP data and the positive rhetoric from Mr. Barnier. Cable denied a nice bearish setup and instead of using the H&S to go lower, went vastly higher breaking the long-term down trendline.

GBP/CAD had a very strong bearish setup. Two shooting stars on the daily chart bouncing from the down trendline and the horizontal resistance, you just cannot make that up! Unfortunately for the sellers, this setup did not work out and the price went significantly higher breaking those major resistances and triggering a buy signal.

GBP/JPY is having the worst situation among those three instruments. Here, the price is still below the down trendline and we can still create a correction equality pattern. We are still in a bearish territory!

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