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There's a bullish 'V-Top' pattern, which led to the current upward price movement. At the same time, we've got a bearish 'Thorn', so the market is likely going to test the nearest support 0.8543 - 0.8556 in the short term. If a pullback from these levels happens next, bulls will probably try to reach another resistance at 0.8616 - 0.8634.
Asian shares scaled a record high on Friday on growing prospects of a large U.S. economic stimulus package, while hopes that coronavirus vaccine rollouts will boost the global economy underpinned investor sentiment.
U.S. stocks are seen opening mixed Thursday, pausing around record highs as investors await more fresh news on Covid-19 vaccines and potential fiscal stimulus.
A tentative mood was seen in Asia-Pacific bourses following the flat performance on Wall Street, whilst Chinese Caixin Services PMI printed its second-highest reading in a decade.
The mix of economic reports from Canada and the USA will have a huge impact on the pair! Get ready with us!
GBP/USD is heading for the fifth week of gains. Will the rally up continue or stop?
Asian shares scaled a record high on Friday on growing prospects of a large U.S. economic stimulus package, while hopes that coronavirus vaccine rollouts will boost the global economy underpinned investor sentiment.
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