GBP was a real star of today's trading. We had the first rise in UK rates in the recent history. The outcome of this was bearish for the Sterling. EURGBP was signalling this possibility yesterday. The price created the hammer candlestick on the daily chart which was bouncing from the important long-term support. Sentiment is definitely positive.
Next one is the EURUSD were we have a small correction of the movements seen in the last week. The correction is shaped as a flag and is aiming the long-term resistance, which in the same time is a neckline of the H&S formation. Sellers have higher odds for the success.
Gold is in a bearish flag but in the same time is very close to break the mid-term down trendline especially that we are still above a strong support created by the two Fibonacci lines and two dynamic trend lines.
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GBP weakens. EURUSD tests the neckline
Published 11/02/2017, 10:32 AM
GBP weakens. EURUSD tests the neckline
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