GBP/JPY: developing 'Flag' pattern

GBP/JPY: developing 'Flag' pattern

Information is not investment advice

The market is consolidating along the Moving Averages. It seems like we're going to have a 'Flag' pattern. If so, the market is likely going to achieve the nearest resistance at 147.00 - 147.80 in the coming hours. The subsequent pullback from these levels could lead to a decline in the direction of the previously tested support at 144.13 - 143.71.




XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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