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The Moving Averages have acted as support, so there's a bullish 'Thorn' pattern. In this case, the pair is likely going to test the nearest resistance at 147.80 - 148.56, which means we could have a new local high soon. If any bearish pattern forms next, there'll be time for a downward correction towards the closest support at 145.98.
The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
The GBP is likely to move upward until it reaches the resistance of 1.2795.
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The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
The GBP is likely to move upward until it reaches the resistance of 1.2795.
The aussie is expected to plummet for the next six months. What is the reason?
