What happened? Brent returned to the rising channel on Wednesday by gaining 4% during the trading session…
EUR/GBP: rebounded from maximums
Information is not investment advice
On the daily chart of EUR/GBP, the pair touched picks above 0.93 and moved down. RSI indicator has left the oversold area, same as MACD formed new maximums. If we look at H4, we will notice that the RSI indicator has been sliding. RSI indicator on both H4 and daily charts signal a continuation of the downward pressure. The first target lies at 0.9240. If the fall prolongs, 0.9225 level will become the next point for short. Targets are at 0.9211 and 0.91849.
However, the pair may turn around and we will see a movement towards previous highs. EUR/GBP will target 0.9311. The next targets are at 0.9355 and 0.94.
What will happen? The European Central Bank will present the monetary policy statement on June 22…
After a notable rally all the way to 1.28, USD/CAD dropped back to 1.2730 yesterday, confirming our outlook mentioned a few days ago about the need for a downside retracement before the upside trend resumes.
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